Updated Income Tax Rules 2002 establish a step-by-step schedule for preparing, consulting on and notifying tax return forms, with draft forms due by December 1, 2026, and final forms by January 31, 2027.
The Federal Board of Revenue (FBR) has prescribed a detailed timeline for preparing, consulting on and notifying income tax return forms for tax year 2027, setting January 31, 2027, as the deadline for making final forms available on its IRIS portal.
The FBR issued the Income Tax Rules, 2002, updated up to September 15, 2026, for tax year 2027, covering the period from July 1, 2026, to June 30, 2027.
Under Rule 34A, the tax authority has established deadlines for different stages of preparing and notifying income tax return forms, including legal amendments, software development, testing and stakeholder consultations.
According to the rule, the draft return form prescribed under Rule 34 must be notified for public suggestions by December 1, 2026.
The Inland Revenue Policy Wing must identify legal amendments required in the return forms by August 31, 2026. Meanwhile, the Inland Revenue Policy Wing and Information Technology Wing, in consultation with Pakistan Revenue Automation Limited (PRAL), must finalise the Change Request Form (CRF) by September 15.
The Chief Income Tax Policy and Chief Business Domain Team will scrutinise the change request by September 16 and submit it to the Member Inland Revenue Policy for approval.
PRAL must complete configuration and software development of the approved changes by October 31, 2026.
The amended forms must undergo User Acceptance Testing (UAT) by November 15, with the Inland Revenue Policy and Information Technology wings consulting PRAL before submitting the results for approval.
Public consultation and final notification
Under Rule 34A, the draft income tax return forms will remain available on the FBR portal for public suggestions until January 7, 2027.
The Inland Revenue Policy and Information Technology wings must review stakeholder feedback by January 12.
If further changes are required, a new CRF must be finalised in consultation with PRAL by January 15 and approved by the Member Inland Revenue.
PRAL will then have until January 20 to complete the configuration and development of the approved changes.
The final forms must undergo User Acceptance Testing by January 25, with the results submitted to the Member Inland Revenue Policy for approval.
The FBR is required to notify the final income tax return forms by January 31, 2027, and make them available on its IRIS portal by the same date.
The rules also provide that any subsequent legal amendments during the relevant financial year affecting the notified forms must be incorporated accordingly.
However, the Board may extend the prescribed timelines if requested by the Member Inland Revenue Policy, subject to conditions and limitations it considers appropriate.
The schedule aims to establish a structured process for updating income tax return forms and allowing stakeholders to submit suggestions before final notification.