Rs88,927 set for Zakat deduction

ISLAMABAD: The government on Wednesday announced Nisab of Zakat for this year, setting Rs88,927 as minimum amount for Zakat deduction from saving banks accounts, profit and loss sharing accounts, and other similar accounts.

Poverty Alleviation and Social Safety Division announced the nisab, notifying that no deduction of Zakat at source would be made, in case the amount standing to the credit of an account in respect of the assets was less than Rs.88,927.

"First day of Ramazan-ul-Mubarak has already been notified as the 'Deduction date' likely to fall on 3rd or 4th April, 2022 (subject to appearance of the moon) for deduction of Zakat,” it added. The Division directed all Zakat Collection Controlling Agencies to deduct Zakat accordingly.