The Federal Board of Revenue (FBR) has proposed that companies submit financial statements with their income tax returns only in an electronically readable format through the IRIS portal from tax year 2026 onwards.
The proposal was issued through SRO 1912(I)/2026 on Tuesday. It inserts a new sub-rule (2F) in Rule 73 of the Income Tax Rules, 2002. Under the rule, financial statements accompanying a company’s return must be furnished electronically through IRIS in a format defined under clause (19DA) of Section 2.
The statements must conform to the data scheme, taxonomy, file structure, field mapping, validation rules and other technical specifications set by the FBR and made available through IRIS or its web portal. The FBR may prescribe different schemes, taxonomies or specifications for different classes of companies, based on the financial reporting framework applicable to them.
The draft also substitutes sub-rule (3) of Rule 73. Under the revised provision, returns, statements, financial statements, certificates, applications and other documents filed through IRIS must be verified by the relevant person or, where permitted, their e-intermediary.
Verification must be made through a digital signature or another secure electronic authentication method linked to the person’s registered credentials, as specified by the FBR.
After successful transmission and validation, IRIS will issue an electronic acknowledgement with a unique reference number. This acknowledgement will serve as evidence of electronic filing under the Income Tax Ordinance, 2001, and the relevant rules.
The amendments have been proposed under Section 237(1), read with Section 114(2A) of the Income Tax Ordinance, 2001.
The FBR has invited objections and suggestions from affected persons within seven days of the notification’s publication in the official Gazette. The Board will consider all submissions received within this period before finalising the amendments.
