Karachi Tax Bar Association (KTBA) is organizing a seminar on Zakat calculation on Friday, March 17, 2023.
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Nisab of Zakat fixed at Rs88,927
KARACHI: The federal government on Wednesday announced an amount of Rs88,927 as deduction of Zakat from bank accounts and deposits on the first day of the holy month of Ramzan.
According to a notification issued by the Cabinet Secretariat the administrator General Zakat had notified the ‘Nisab of Zakat’ for the Zakat Year 1442-43 AH at Rs88,927.
No deduction of Zakat at source shall be made, in case the amount standing to the credit of an account in respect of the assets mentioned in column 2 of Serial No. 1 of the first schedule of Zakat and Ushr Ordinance, 1980, is less than Rs88,927 on the first day of Ramzan ul Mubarak 1443 AH.
First day of Ramzan has already been notified as the deduction date likely to fall on April 3 or 4, 2022 (subject to appearance of the moon) for deduction of Zakat from saving bank accounts, profit and loss sharing accounts and other similar accounts having credit balance of Rs88,927.
All the Zakat collection controlling agencies have been asked to deduct the Zakat accordingly.
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Nisab of Zakat fixed at Rs80,933
ISLAMABAD: The administrator general Zakat on Saturday issued the ‘Nisab of Zakat’ for the Zakat Year 1441-42 A.H at Rs.80,933.00/- (Rupees: eighty thousand nine hundred thirty-three only).
No deduction of Zakat at source shall be mentioned in column 2 of Serial No.1 of the first schedule of Zakat and Ushr Ordinance, 1980 is less than Rs. 80, 933.00/- (Rupees: eighty thousand nine hundred thirty-three only), on the first day: of Ramazan-ul -Mubarak, 1442 A.H as the “Deduction Date” likely to fall on 14th or 15th April 2021 (subject to appearance of moon) for deduction of Zakat from Saving Bank Accounts, Profit and Loss Sharing Accounts and other similar.
Account having credit balance of Rs. 80,933.00/- (Rupees: eighty thousand nine hundred thirty-three only).
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Banks to remain closed for Zakat deduction
KARACHI: Banks to remain closed for public dealing on Monday due to deduction of Zakat.
The State Bank of Pakistan (SBP) in a statement said that it will remain closed for public dealing on Monday, April 27, 2020, which shall be observed as “Bank Holiday” for the purpose of deduction of Zakat.
All banks / DFIs / MFBs shall, therefore, remain closed for public dealing on Monday, April 27, 2020.
However, all employees of the banks / DFIs / MFBs will attend to their official assignments (in-office or work-from-home, as designated under the current COVID-19 situation) on Bank Holiday treating it as a normal working day (except for public dealing).
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Zakat on amount Rs46,329 and above to be deducted from bank accounts
KARACHI: State Bank of Pakistan (SBP) on Monday issued instructions to banks related to deduction of Zakat on amount above Rs46,329 maintained in saving bank accounts.
The SBP said that Administrator General Zakat had notified the ‘Nisab of Zakat’ for the Zakat Year 1440-41 AH at Rs46,329.
No deduction of Zakat at source shall be made, in case the amount tanding to the credit of an account is less than Rs46,329 on the first day of Ramzan ul Mubarak, 1141 AH.
First day of Ramzan ul Mubarak, has already been notified as the deduction date likely to fall on April 23 or 24, 2020 (subject to appearance of the moon) for deduction of Zakat from Saving Bank Accounts, Profit and Loss Sharing Accounts and other similar accounts having credit balance of Rs46,329.
All the Zakat collection controlling agencies have been asked to deduct the Zakat accordingly.
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Nisab of Zakat fixed at Rs44,415 for deduction from bank accounts
KARACHI – The government of Pakistan has officially announced the Nisab of Zakat for the Zakat Year 1439-40 AH, setting the threshold at Rs44,415, according to a statement released by the State Bank of Pakistan (SBP) on Friday.
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