FBR refutes news of changes in Income Tax Return Form 2025

Islamabad: The Federal Board of Revenue (FBR) has clarified that misleading information is being circulated on social media groups regarding the income tax return form. The FBR has made no changes to the Income Tax Return Form 2025.

In a statement issued by the FBR, it was explained that certain elements are spreading false claims on various social media platforms about the return form. It was categorically stated that no amendments or modifications have been introduced to the Income Tax Return Form 2025 through any new SRO.

The FBR further highlighted that the Income Tax Return Form was officially released on its website on July 7, 2025. The form explicitly required taxpayers to declare the market value of assets on page 66.

According to the FBR, scrutiny of the returns filed so far has revealed that many individuals were entering “zero” in the column for the market value of assets. This practice has now been restricted to ensure that accurate information is provided.

The FBR clarified that declaring the market value of property is entirely at the taxpayer’s discretion and does not require any formal valuation or calculation—except for wealthy individuals who are already required to provide this information under Section 7E.

The statement added that for other taxpayers, this information is not relevant for tax assessment. Therefore, no tax notices will be issued in case of errors. However, taxpayers are expected to declare values that reasonably reflect the market worth of their assets.

The FBR also confirmed that those who have already filed their returns will not be asked to revise or re-file them, since the asset market value entries are not used in tax computation.

The notification further emphasized that the IRIS system is fully functional and operating smoothly. Taxpayers are urged to file their income tax returns as early as possible, as the deadline remains September 30, 2025.

It is important to note that misleading social media posts had claimed that the tax return form was altered just days before the filing deadline. Some reports alleged that a new column had been added to the form shortly before September 30, 2025.