Zakat Nisab mounted at Rs103,159

ISLAMABAD: The federal government has mounted “Nisab of Zakat” for the Zakat 12 months 1443-44 A.H at Rs103,159 for deduction of Zakat from Saving Financial institution Accounts, Revenue and Loss Sharing Accounts and different comparable accounts. The “deduction date” is prone to fall on March 23 or 24 (topic to look of the moon) for deduction of Zakat.

On this regard, the Ministry of Poverty Alleviation and Social Safety has issued a notification dated March 17, 2023 to the State Financial institution of Pakistan (SBP) and Zakat Assortment Controlling Businesses.

In accordance with the notification, the Administrator Basic Zakat has notified the “Nisab of Zakat” for the Zakat 12 months 1443-44 A.H at Rs103,159. No deduction of Zakat at supply shall be made, in case the quantity standing to the credit score of an account in respect of the belongings talked about in column 2 of Serial No.1 of the primary schedule of Zakat and Ushr Ordinance 1980, is lower than Rs103,159 on the primary day of Ramazan-ul-Mubarak, 1444 AH First Day of Ramazan-ul-Mubarak has already been notified because the “Deduction date” prone to fall on March 23 or 24 (topic to look of the moon) for deduction of Zakat from Saving Financial institution Accounts, Revenue and Loss Sharing Accounts and different comparable Accounts having credit score stability of Rs. 103,159.

All of the Zakat Assortment Controlling Businesses (ZCCAs) are requested to deduct the Zakat accordingly. A replica of return of Kind CZ.-08(A&B) might please be offered to this Ministry instantly after depositing Zakat in Central Zakat Account No.CZ-08 being maintained with the SBP, it added.