Nisab of Zakat for the Zakat Year 1439-40 AH – Deduction of Zakat at Sources in Respect of Saving Banks / Profit and Loss Sharing

Government of Pakistan, Ministry of Religious Affairs & Interfaith Harmony has issued Notification on 03-05-2019 in connection with Nisab of Zakat for the Zakat Year 1439-40 AH – Deduction of Zakat at Sources in Respect of Saving Banks / Profit and Loss Sharing. Detail is as under:

I am directed to say that Administrator Zakat has notified the “Nisab of Zakat”  for the Zakat year 1439-40 AH at Rs.44,415/- (Rupees; Forty four thousand fifteen only). 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 to Zakat and Ushr Ordinance, 1980, is less than Rs. 44,415/- (Rupees: Forty four thousand four hundred fifteen only) on the first day of Ramazan-ul-Mubarak, 1440 A.H. First day of Ramazan-ul-Mubarak has already been notified as the “Deduction date” likely to all Zakat from Saving Bank Accounts, Profit and Loss Sharing Accounts and other similar Accounts having credit balance of Rs.44,415/- (Rupees: Forty four thousand four hundred fifteen only).

BY: MR.ZAHID KHAN

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Nisab of Zakat for the Zakat Year 1439-40 AH

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