FBR adds new asset column in tax forms before deadline

The Federal Board of Revenue (FBR) has made a last-minute change to income tax forms, just one day before the deadline for filing returns on September 30. This unexpected move has surprised many taxpayers.

What Changed?

FBR has added a new section in the tax form, asking taxpayers to declare the market value of their assets. This information is now mandatory when submitting tax returns.

Why This Change?

According to FBR:

• No new SRO (statutory order) was issued for this change.

• The new column was added on August 18.

• The purpose is to collect accurate data about asset values.

• This data will help in making better economic policies.

FBR also clarified that this information is not related to tax calculations and will not be used against taxpayers.

Concerns from Taxpayers

Many filers are worried because:

• Those who have already filed returns may now need to resubmit them.

• The system does not allow submission without filling the new column.

While FBR insists the change is only for policy-making, the sudden timing has created confusion among taxpayers who are racing to meet the September 30 deadline.

Read More: Gold prices drop in Pakistan – check new rates