Under draft amendments to the Income Tax Rules, 2002, companies would be required to submit electronically readable financial statements through IRIS from tax year 2026, subject to specified technical requirements.
Islamabad, October 28, 2026: The Federal Board of Revenue (FBR) has proposed making electronic submission of financial statements mandatory for companies filing annual income tax returns from tax year 2026 onwards.
Under draft notification SRO 1912(I)/2026, the FBR has proposed amendments to Rule 73 of the Income Tax Rules, 2002, requiring companies to submit their financial statements electronically through the IRIS portal in an electronically readable file format.
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The draft amendments have been issued under the powers conferred by Section 237 of the Income Tax Ordinance, 2001, read with Section 114(2A).
According to the proposed new sub-rule (2F), financial statements accompanying company income tax returns must comply with the data scheme, taxonomy, file structure, field mapping, validation rules and other technical specifications prescribed by the FBR.
The tax authority may establish different technical requirements for different categories of companies, taking into account the financial reporting frameworks applicable to them.
Digital verification and acknowledgement
The draft notification also proposes replacing sub-rule (3) to strengthen electronic verification and filing procedures.
Under the proposed provision, returns, statements, financial statements, certificates, applications and other documents submitted through IRIS must be verified by the taxpayer or an authorised e-intermediary, where permitted.
Verification would be completed through a digital signature or another secure electronic authentication method linked to the taxpayer’s registered credentials, as specified by the FBR.
Following successful transmission and validation, IRIS would issue an electronic acknowledgement carrying a unique reference number. This acknowledgement would serve as evidence of electronic filing under the Income Tax Ordinance, 2001, and the relevant rules.
Seven-day period for objections
The FBR has invited objections and suggestions from persons likely to be affected by the proposed amendments.
Interested parties may submit their feedback within seven days of publication of the notification in the official Gazette. Submissions received within the specified period will be considered by the tax authority.
As the notification concerns draft amendments, the proposed requirements should not be treated as final until the relevant rules are formally notified.