A notification was issued by the FBR on Tuesday, officially releasing the draft return form, which will apply to the tax year 2025.
Additionally, through SRO 1212(I)/2025, the FBR has also unveiled the draft income tax return form for corporate entities.
For tax year 2024, the FBR received a total of 4.436 million income tax returns.
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According to a salaried taxpayer, each page of the new individual return form is categorized under separate headings, such as “Your Income,” “Your Pension,” “Your Rent from Property,” “Your Profit on Bank Accounts,” and “Your Dividends.”
Meanwhile, SRO 1213(I)/2025 outlines a proposed set of amendments to the Income Tax Rules, 2002, under powers granted by Section 237(1) of the Income Tax Ordinance, 2001. These proposed changes have now been made public to inform and gather input from stakeholders.
In line with Section 237(3), the FBR has invited objections or suggestions from the public within seven days of the draft’s publication in the official Gazette. Any feedback received during this window will be reviewed and considered before final implementation.
