Federal Board of Revenue (FBR) on Thursday clarified that no amendments have been made to the Income Tax Return Form 2025, dismissing social media rumors and urging taxpayers to file by September 30.<\/p>\n
\u201cIt has come to our notice that some elements are spreading misinformation regarding Income Tax Return 2025 on various social media groups. In this regard, it is clarified that FBR has not introduced any change or amendment in Income Tax Return Form 2025 through any new SRO recently\u201d, said a news release.<\/p>\n
The FBR said that the Income Tax Return Form 2025 was uploaded on its website on July 7, clearly requiring entry of the market value of assets on page 66. However, some taxpayers were entering zero in the relevant field, which has now been restricted to ensure correct data entry.<\/p>\n
The board explained that declaring the market value of property is at the discretion of the taxpayer, except for wealthy individuals already providing this information under Section 7A.<\/p>\n
Since the data is not relevant for tax calculation for other taxpayers, no notices will be issued for errors. However, it is
\nexpected that taxpayers will declare the value of their assets as close to the market value as per their information.<\/p>\n
The FBR said that taxpayers who have already filed returns will not be required to amend or re-file them, as the entries regarding asset values will neither affect tax calculations nor wealth statement reconciliations.<\/p>\n
The IRIS system for filing income tax returns is fully functional and working properly, therefore taxpayers are urged to submit their income tax returns as soon as possible as the last date for filing income tax returns is September 30, 2025.<\/p>\n","protected":false},"excerpt":{"rendered":"
Federal Board of Revenue (FBR) on Thursday clarified that no amendments have been made to the Income Tax Return Form 2025, dismissing social media rumors and urging taxpayers to file by September 30. \u201cIt has come to our notice that some elements are spreading misinformation regarding Income Tax Return 2025 on various social media groups. […]<\/p>\n","protected":false},"author":2,"featured_media":484209,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-504929","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"\n