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According to two judgments of the Lahore High Court Lahore, Gratuity Fund itself is not liable to zakat. However, when payment is made to its members, it will deduct zakat if the payee is sahib-e- nisab.
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∙ 12y ago
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Does zakat deduct from current accounts?
Foreign currency and current accounts are exempted from this deduction.
Can a wife give Zakat to her husband for finishing loan?
no a wife cant give zakat or money of zakat to her husband under the masarif of zakat.
Can syed give zakat to syed?
there are two type of Zakat: obligatory Zakat and Mustahab (recommended Zakat). Recommended Zakat is same as non obligatory donations. Syed can receive non obligatory Zakat from all. but obligatory only from Syed.
What is zakat in Arabic?
It is Zakat in Arabic as well. :)
Different between zakat income and income tax?
following is the difference between Tax and Zakat 1. A tax is levied on all the citizens of the state while Zakat is levied only on the Muslim members of the society. 2. Zakat is a compulsory payment which must be paid by the Muslims and tax is also a compulsory payment but it is remittable by the government of the state. The Zakat is not remit tenable. 3. Zakat has a religious sanctity behind it because it is one of the five pillars of Islam. But a tax is a compulsory contribution to the state to cover the cost of services rendered by it for the general benefit of the people. 4. The rate of Zakat (i.e. 2.5%) is fixed by the God in the Holy Quran and cannot be changed by the government of the state from time to time to meet its requirements. 5. The nature of the sources of Zakat is fixed but the sources of a tax are variable. The sources of a tax can be diversified in accordance with the need of revenue requirements. 6. The income collected from Zakat can only be spent on deserves of Zakat. The specified items of deserves are laid down by the Holy Quran but taxes can be spent on various requirements as determined by the government of a state.
Can you pay zakat in instalments?
No we can not pay zakat in instalment.
Can you pay zakat on assets?
Yes we can pay zakat on our assets.
What can you get zakat for yourself?
What is zakat even that needs to be answered first
Zakat on Christians in Pakistan?
No zakat on christians but only Muslims.
When was The Zakat Foundation created?
The Zakat Foundation was created in 2001.
What if we can't pay the zakat?
zakat is not compulsory on poor people.... but if you are rich and you dont pay zakat out of arrogance than its a sin
What does zakat help to make?
The meaning of zakat is, buying the love of God. If you pay zakat you will get it seven times more than you paid.
