Business Desk 
Sep 27, 2025
As per the recommendations of a high-powered government committee, which were subsequently approved by Prime Minister Muhammad Shehbaz Sharif, the Federal Board of Revenue (FBR) has decided to delete the column for estimated fair market value from the income tax return forms for this year.
The committee, headed by Federal Law Minister Senator Azam Nazeer Tarar, was formed to address the recent requirement for taxpayers to declare the estimated market value of their movable and immovable assets as part of the FBR's IRIS tax return system.
Moreover, the committee also included the federal ministers of petroleum and finance, the attorney general, the senior aide to the coordinator to the deputy PM's office, the secretary to the finance department, the FBR chairman, and the member of customs.
During the committee meeting on Friday, the committee examined the ramifications and implications of the appropriate column and subsequently recommended for its removal to simplify the tax filing process and allay the concerns expressed by taxpayers. The prime minister approved the recommendation.
In an official statement, the FBR said: "In pursuance of the directions of the Honourable prime minister, and keeping in view the difficulties being faced by taxpayers, the column of ‘Estimated Fair Market Value’ has been removed from the Income Tax Return."
The FBR clarified that the column was intended solely for data collection to support the Economic Survey and did not affect the assessment of income or tax liability.
