ISLAMABAD: The Federal Board of Revenue (FBR) has issued an official clarification regarding the recent modifications made to the 2025 income tax return form, a move that comes just days before the September 30 filing deadline. According to the FBR, the deadline for filing income tax returns remains unchanged, and taxpayers must submit their returns through the IRIS portal by the due date. The tax authority emphasized that the newly introduced changes are part of ongoing efforts to enhance transparency and align reporting standards with international best practices. Concerns were raised among taxpayers after reports surfaced about the addition of a new column in the IRIS form, requiring individuals to declare the market value of their assets. Many filers feared that such a requirement could create difficulties, particularly at a time when the deadline is fast approaching. In response, the FBR clarified that the inclusion of this column is intended to improve data accuracy and ensure comprehensive asset documentation. The authority further assured taxpayers that the information will be treated confidentially and will not be used to create undue hardship. Instead, the measure aims to strengthen compliance, expand the tax base, and reduce discrepancies in asset declarations. The FBR encouraged taxpayers not to delay the submission of their returns and reiterated that extensions to the September 30 deadline are not currently under consideration. Tax experts, however, have urged the FBR to provide additional guidance and extend support to ease the transition for filers adapting to the revised requirements. As the deadline approaches, the focus remains on whether these last-minute changes will impact compliance levels or lead to an increased number of requests for deadline extensions.
FBR Clarifies Changes in 2025 Income Tax Return Form Amid Taxpayer Concerns.
