The Federal Board of Revenue (FBR) has issued an official clarification to counter misinformation circulating on social media regarding the Income Tax Return Form 2025.

In a press release, FBR confirmed that no amendments or new SROs have been issued for the 2025 return form, which was published on the FBR website on July 7, 2025. The form requires taxpayers to declare the market value of their assets on page 66.

FBR noted that a review of returns filed so far showed many individuals were entering “zero” for asset market values. To address this, the system now restricts such entries, ensuring more accurate disclosures.

The tax authority emphasized that, except for high-net-worth individuals (who are already required to provide detailed valuations under Section 7E), the declaration of property market value is at the taxpayer’s discretion. No research or formal valuation is required for most filers, and these values are not used in tax calculations for regular taxpayers. As a result, no notices will be issued for mistakes in this section.

Additionally, FBR assured that those who have already filed their returns will not be asked to revise or re-file, since the asset market value entries are not used for tax assessment or wealth statement reconciliation.

FBR reiterated that the IRIS system is fully functional and urged taxpayers to file their returns promptly. The deadline for submission remains September 30, 2025.