The Federal Board of Revenue (FBR) has unveiled a new electronic income tax return form for individuals, set to be used for the tax year 2025. The form, despite being titled the “Simplified Electronic Return for Individuals,” has raised concerns for its complexity, as it spans a lengthy 25 pages.
The FBR issued a notification on Tuesday announcing the draft of the return form. This form is designed to capture detailed information across various categories, with separate sections for income, pensions, property rent, bank account profits, and dividends.
In addition to the individual return form, the FBR also introduced a draft income tax return form for companies under SRO 1212(I)/2025. The tax return forms, along with the proposed amendments to the Income Tax Rules, 2002, were published in the official Gazette under SRO 1213(I)/2025.
The amendments are being made in accordance with Section 237 of the Income Tax Ordinance, 2001.
The FBR has provided a seven-day window for individuals and businesses to submit objections or suggestions regarding the new return forms and the proposed amendments. The deadline for submitting feedback is set for seven days after the draft’s publication in the official Gazette.
