Zakat Nisab for 2017 notified by the government

Zakat Nisab for 2017 notified by the government
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ISLAMABAD: The Federal government has issued the notification regarding the Zakat amount for the year 2017 which would be deducted on the 1st day of the holy month of Ramazan.

The government has set this year's 'Nisab of Zakat ' at Rs 38406, which will apply on Saving Accounts, according to a notification issued Wednesday.

The 2.5 per cent deduction, applied on Saving, Profit and Loss Sharing and other similar accounts, will be made on 1st of Ramazan which is likely to fall on May 27 or 28, notified the Administrator General Zakat .

However, the Savings Account holders, who have already submitted an affidavit, will be exempted from the deduction.

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