KARACHI: The Karachi Tax Bar Association (KTBA) has brought to light a critical technical issue affecting builders and developers who filed their income tax returns for Tax Year 2025 under the new regime of Section 7F of the Income Tax Ordinance, 2001. According to a letter addressed to Rashid Sahib, Chairman of the Federal Board of Revenue (FBR), taxpayers in this sector are unable to generate a printable PDF version of their filed returns through the FBR's IRIS portal.
The KTBA highlights that when these taxpayers attempt to print their returns by clicking the print icon in the IRIS system, a "Not a valid PDF" error message appears. This malfunction prevents them from obtaining a physical or saved digital copy of their submitted return. The association stresses that a printable copy of the filed return is an essential document required for various purposes, including obtaining bank financing, fulfilling regulatory requirements, maintaining internal records, and providing proof of filing to business counterparts.
The KTBA believes this issue stems from a technical glitch specific to returns filed under the newly implemented Section 7F, necessitating a system update or patch from the PRAL/FBR's IT team. The association has requested urgent intervention from the FBR to direct concerned officials to identify and rectify this error in the IRIS portal. Resolving this issue swiftly will enable builders and developers to download and print their duly filed income tax returns for Tax Year 2025, facilitating smooth business operations and ensuring compliance.
The KTBA appreciates the FBR's efforts in modernizing the tax system and is ready to provide further clarification or assistance if required.
