FBR removes the column of estimated market value from the income tax form from the income tax form

• Justice Minister Azam Tarar has led the Review Committee.
• Petroleum minister, Attorney General were also members.
• The Commission evaluated the impact of the new column on taxpayers.

ISLAMABAD: The Federal Revenue Council (FBR) on Friday removed the “estimated market value column” from the 2025 income tax return form on Prime Minister Shehbaz Sharif to facilitate taxpayers.

The prime minister was a committee, chaired by the Federal Minister for Senator Azam Nazeer Tarar, to examine the new column introduced by the FBB in the Iris tax return that requires taxpayers to declare their estimated rational market value, Taxpayers and constitute corrective measures or improvements, the release of news said.

The Commission included the Minister of Petroleum, the Minister of Finance, the Attorney General for Pakistan, the SAPM for the Coordination of the Office of DPM, the funding of the secretary, the President FBR and the members of the FBR.

Following detailed discussions at today’s meeting, the Commission set up the new column introduced into the iris tax return, demanding the statement of the estimated fair value of mobile and immobilized assets by the taxpayer, may be deducted in the interest of the taxpayer.

The recommendation of the committee was submitted to the Prime Minister, who has given his approval.

According to the Prime Minister’s directions and taking into account the difficulties faced by taxpayers, the column of “estimated fair market value” has been removed from the income tax return.

It is clarified that this column had been introduced exclusively for the collection of data to support financial research and had absolutely no evaluation of income or tax liability.

“FBR remains committed to facilitating taxpayers in all possible ways,” he said, urging all eligible taxpayers to properly submit their income tax returns and honestly at the earliest, as the deadline for deposit is September 30.