The Federal Board of Revenue (FBR) has introduced a new requirement for income tax return filers for the tax year 2025, making it compulsory to declare the fair market value of all immovable properties during purchase, sale, or if already owned, starting July 1, 2025.

According to a draft return form issued via SRO 1213(I)/2025 on July 7, 2025, taxpayers must now manually re-enter the fair market value and other details of each property they own, even if the system has already auto-filled this information from previous declarations.

The FBR has emphasized that all immovable properties—including plots, houses, apartments, and commercial units—must be declared with their current fair market value. Taxpayers are also required to ensure that previously declared property details are re-entered manually in the new section of the return form.

The tax authority has warned that failure to provide complete property information may result in an invalid tax return. The new rule applies to all individuals who file tax returns and own immovable assets, as part of FBR’s ongoing efforts to improve transparency and compliance in property declarations.