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Govt fixes Nisaab of Zakat at Rs80, 933

Islamabad: The federal government has fixed the Nisaab of Zakat at 80,933 rupees for deduction of Zakat from bank accounts.

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Govt fixes Nisaab of Zakat at Rs80, 933
Govt fixes Nisaab of Zakat at Rs80, 933

As per details, an official notification has been issued by the Administrator General Zakat for lunar year 1441-42 Hijri.

The notification stated that people maintaining  minimum eighty thousand nine hundred thirty-three rupees balance in savings, profit and loss sharing or similar bank accounts on the first day of Ramazan will be liable to pay 2.5 percent Zakat on the total balance.

Earlier, Federal Minister for Science and Technology Fawad Chaudhry predicted that Ramzan moon would be sighted country-wide on April 13 and first of Ramzan will be observed on April 14.

Fawad Chaudhry has multiple time objected to Central Ruet-i-Hilal Committee's decisions regarding moon sightings saying that usage of technology is ignored in the process.

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