The Federal Tax Ombudsman (FTO) has taken immediate notice of the alleged illegal action to amend the Income Tax Return Farm’s Wealth Statement section for tax year 2025 by the Federal Board of Revenue (FBR), in which taxpayers need to announce their movement market value.
In response to a complaint filed by prominent tax lawyer Waheed Shahad Butt, the FTO has issued notices to the FBR Secretary, Revenue Division, Member (Operations-IR), Member (Policy), Member (Legal), and DG (IT and DT).
These officials have been summoned for hearing on Monday, September 29, 2025, and they have been instructed to appear on the matter with a wise comment.
It is likely that the FBR can withdraw the amendment of the wealth after the intervention of the FTO.
The Federal Board of Revenue (FBR) has recently released an explanation about misunderstanding on social media about the Income Tax Returns 2025. According to the official press release, the FBR has not improved any amendments or changes in the Income Tax Room 2025. On July 7, 2025, a return form, released on the FBR website, requests taxpayers to announce their assets market value on page 66.
So far, a review of returns has revealed that many people are entering the “zero” in the column for assets market value. The statement added that to resolve this, the system now bans such entries to ensure that taxpayers provide accurate information.
The FBR further clarified that the announcement of the property market value is fully at the discretion of taxpayers and does not require any research or formal diagnosis, except that high network capables who already need to provide this information under Section 7E. For other taxpayers, these values are not used in the tax calculation, and no notice will be issued for the mistakes in this declaration. However, taxpayers are expected to declare assets values as close to market rates as much as possible.
The tax authority has also confirmed that taxpayers who have already filed their return will not be asked to revise or re -file, as the asset market value entries are neither used for tax calculations nor to compromise in wealth statements.