Islamabad, September 25, 2025 – The Federal Board of Revenue (FBR) has issued a detailed clarification regarding the 2025 income tax return filing process, addressing widespread confusion on social media.
The tax authority emphasized that while no new amendments have been introduced to the return form, the requirement of declaring the market value of assets has been made mandatory for filing.
According to the FBR, misleading claims have circulated online suggesting that new changes were suddenly imposed through a fresh SRO. The FBR rejected these reports, reiterating that the Income Tax return form for tax year 2025 was officially notified and uploaded on its website on July 7, 2025. On page 66 of the return form, it was clearly specified that taxpayers are required to enter the market value of assets.
During scrutiny of returns already filed, authorities noticed that several taxpayers were entering “zero” in the column for current market value. This prompted the FBR to restrict the option, ensuring that authentic information is entered during the return filing process.
The clarification further explained that for most taxpayers, the declaration of market value will not affect tax liability. No complex research or formal valuation is required—except for high-net-worth individuals already subject to Section 7E provisions. The declaration is primarily for record-keeping and does not impact wealth statement reconciliation.
To ease concerns, the FBR assured that taxpayers who have already completed their return filing will not be required to revise or re-file. The data entered will not alter tax computation, and no notices will be issued solely on account of minor errors in market value reporting. However, taxpayers are encouraged to provide estimates as close as possible to the actual market worth of their assets.
The FBR also confirmed that its IRIS portal is operating smoothly and fully functional for return filing. Citizens have been urged to avoid misinformation, rely only on official announcements, and complete their income tax return filing before the September 30, 2025 deadline.