FBR Clarifies Tax Form: The Federal Board of Revenue (FBR) has officially clarified the recent updates made to the 2025 Income Tax Return Form. With the filing deadline approaching fast, many taxpayers were confused about the addition of a new column asking for the market value of assets.
Here’s what FBR has explained and what you need to do before filing your return.
Clarifications by FBR
- No new SRO issued — the form was updated earlier in August.
- Deadline remains — there is no extension yet.
- The new asset market value column is only for data collection.
- Taxpayers will not face penalties for errors or differences in this new column.
- Those who have already filed returns do not need to re-file.
- The new column appears on page 66 of the tax return form.
What Taxpayers Should Do
- Stay calm — the new requirement will not increase your tax liability.
- When filling your return, enter a reasonable estimate of the market value of your assets.
- Do not leave the new column blank — enter the approximate figures.
- File before to avoid late fees or penalties.
- If you already filed your return, you do not need to file again.
| Issue | Clarification |
|---|---|
| New rule issued? | No, only form update |
| Filing deadline | — |
| Purpose of new column | Data collection only |
| Penalties for mistakes | None |
| Already filed return? | No need to re-file |
Final Words
The FBR’s clarification means that taxpayers should not panic about the new tax return form changes. The extra column is simply for record purposes, and it will not impact your actual tax calculation. However, it’s important to file your returns before to remain compliant.
