Tax season doesn’t have to be a headache, especially for pensioners. While your pension is blessedly tax-exempt, you may still need to file a return to stay compliant, especially if you need to declare your assets in a wealth statement.
Feeling a bit lost in the FBR Iris portal? You’re not alone. Many find it confusing, but we’re here to help. This guide will provide you with simple, clear, and direct steps to file your 2025 tax return with confidence. Let’s get it done quickly and correctly.
The One Key Concept: Tax-Exempt Income
As a pensioner, your situation is straightforward. Your pension is your primary income, and it is exempt from income tax. The main purpose of your filing is often to declare this income and reconcile your annual assets and expenses in the Wealth Statement. Your entire filing is done on a single, integrated form that includes both your income details and wealth statement.
Step 1: Starting Your Tax Return
First, let’s get your 2025 return opened up in the portal.
- Log in to the FBR Iris portal.
- From the main menu, click on the Declaration tab.
- Look for the “Returns / Statements (Original)” heading and click on “Normal Return (Ind/Aop/Coy)”.
- When the dialog box appears, enter the tax period 2025, 2026 and so One. Then click “Select.”
This will create and open your integrated tax return form for the year.
Step 2: Declaring Your Pension Income
This is the most important step. You simply need to tell the system about your tax-exempt income.
- Navigate to the Tax Chargeable / Payments tab.
- Click on the Final / Fixed / Minimum Tax sub-tab.
- Find the line item for tax-exempt income (it’s often labeled “Receipts exempt from tax”).
- In this field, enter your total annual pension amount.
That’s it for your income. You can ignore the other business and employment income tabs.
Step 3: Completing Your Wealth Statement
This section reconciles your assets and expenses for the year. Accuracy is key here.
- Declare Personal Assets: Go to the Wealth Statement section and click the Personal Assets sub-tab. You must declare all your assets here, paying close attention to the closing balances of your bank accounts and any cash you had on hand as of June 30th.
- Declare Personal Expenses: Move to the Personal Expenses sub-tab and enter your estimated total household expenses for the year.
- Reconcile Your Wealth: Finally, go to the Reconciliation of Net Assets sub-tab. This is a final check to ensure everything balances.
- Verify the “Net Assets of Previous Year” figure is correct.
- Check the Inflows section to see that your total pension is correctly listed under “Exempt Tax.”
- The goal is a zero in the “Unreconciled Amount” field. This confirms your finances for the year are perfectly balanced.
Step 4: The Final Submission
You’re just two clicks away from being done!
- Validate: Click the main Validate button at the top of the form. The system will check for any errors. If it finds any, it will guide you to fix them.
- Submit: Once the form is validated successfully, click the Submit button.
Congratulations! You have successfully filed your tax return. file your return smoothly next year too with same process.
