ISLAMABAD: The Federal Board of Revenue (FBR) clarified that no changes have been made to the income tax return forms for the tax year 2025 through any new statutory regulatory order (SRO).
In a statement, the FBR said some people are spreading false information on social media about changes in income tax return forms. The Board stressed that no new SRO has been issued to amend the forms.
The income tax return form for the tax year 2025 was uploaded on the FBR website on July 7, 2025. The form clearly mentions on page 66 that taxpayers must declare the market value of their assets.
During the review of returns filed so far, the FBR found that many filers entered “zero” in the column for current market value of assets. To fix this issue, the system has been updated to ensure taxpayers provide correct figures.
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The FBR explained that the declaration of property values is mainly for record purposes and will not affect tax calculations for most taxpayers.
Only high-net-worth individuals, already required to provide this information under Section 7E, need to give exact details. For others, no detailed calculations are required, and no tax notices will be issued if there are minor errors. However, taxpayers are advised to declare amounts as close to actual market value as possible.
The Board also confirmed that taxpayers who have already filed their returns will not need to revise or re-file them, as these figures are not used for tax computation or reconciliation of wealth statements.
The IRIS system is fully operational and working smoothly for return submissions. The FBR urged taxpayers to file their returns before the deadline of September 30, 2025.
