KARACHI – The government of Pakistan has fixed the Nisab for Zakat deduction on bank accounts at Rs135,179 for the year 2024.
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The Poverty Alleviation and Social Division has issued a notification in this regard, sating Zakat will be deducted from saving accounts, profit and loss sharing accounts having a balance above Rs135,179, on the first of Ramadan 2024.
Under the Zakat and Ushr Ordinance 1980, no amount would be deducted in case a bank account has less than the amount set by the government.
“All the Zakat Collection Controlling Agencies (ZCCAs) are requested to deduct the Zakat accordingly,” it said.
The first of Ramadan will likely fall on March 12, this year, subject to the appearance of the moon.
What is the Nisab amount for Zakat?
The Nisab amount for Zakat deduction has been fixed at Rs135,179.
What is the Zakat rate for 2024?
The banks will deduct 2.5% Zakat on the amount.
How much Zakat will be deducted from bank account?
The amount of Zakat payable is 2.5%, as per the Islamic principal.
Do banks including HBL deduct Zakat from current account?
No any bank, including the HBL deduct Zakat from current accounts.
