Government fixes Rs 35,557 as ‘Zakat Nisab’


ISLAMABAD, June 3 (APP): The government has fixed Rs 35,557 as Nisab of Zakat this year 1436-37 AH, said a notification issued by Administrator General Zakat here on Friday.
Zakat will be deducted from Savings Accounts having credit balance of over Rs 35,557 on first of Ramzan-ul-Mubarak, the notification said.
Zakat will be deducted from Saving Bank Accounts, Profit and Loss Sharing Accounts and Similar Accounts on June 7 or 8, subject to sighting of moon. The banks will remain closed on first of Ramzan-ul-Mubarak.
The notification said that the banks must not deduct Zakat at source in case the balance amount was less than Rs 35,557 on the first day of Ramzan-ul-Mubarak.