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Pakistan

Web Desk
April 11, 2021

Ramadan: Govt fixes Nisab of Zakat at Rs80,933 in Pakistan

Pakistan

Web Desk
Sun, Apr 11, 2021
The amount declared by the government as the Nisab for Zakat is Rs80,933. File photo

ISLAMABAD: The government of Pakistan on Sunday announced the Nisab of Zakat in Pakistan, as the Holy month of Ramadan approaches. 

The amount declared by the government as the Nisab for Zakat is Rs80,933. 

Nisaab is a fixed amount of money that a person must have, after the deduction of necessary expenses, in his/her account to be eligible to pay the tax.

According to a notification issued by the Administrator-General Zakat for the lunar year 1441-42 Hijri, people maintaining a minimum Rs80,933 balance amount in savings, profit and loss sharing, or similar bank accounts on the first day of Ramazan will be liable to pay 2.5% Zakat on the total balance.