Islamabad: The Federal Board of Revenue (FBR) has decided to remove the “expected market value” column from the income tax return form.
According to the FBR’s announcement, this step has been taken on the directive of Prime Minister Shehbaz Sharif. In this regard, a committee was formed under the chairmanship of Law Minister Azam Nazir Tarar, which included the Minister of Petroleum, Minister of State for Finance, Attorney General, Secretary Finance, Chairman FBR and Member Customs.
The committee conducted a detailed review of the impact of the new column and sent its recommendations to the Prime Minister. As per the recommendations, it was suggested to remove this column as it was kept only for economic survey data and it did not create any additional burden or tax liability on the taxpayers.
The Prime Minister approved the recommendation and ordered the immediate removal of the column. The FBR has urged the taxpayers to submit their income tax returns in a timely and honest manner. The last date for filing returns has been fixed as September 30, 2025.
