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pakistan
Sunday Apr 11 2021
By
Web Desk

As Ramadan approaches, govt announces Nisab for Zakat in Pakistan

By
Web Desk
A representational image. Photo: File

  • Nisab is the minimum amount of money a person must have to be eligible to pay Zakat
  • This amount is arrived at after deducting the necessary amount of expenses
  • Govt fixes Nisaab at Rs80,933

ISLAMABAD: With Ramadan just a few days away, the federal government on Sunday announced the rate of Nisaab for Zakat. 

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 lunar year 1441-42 Hijri, people maintaining 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.