KARACHI: Nisab for Zakat deduction on bank accounts has been set at Rs44,415 for the current year.The amount shall be deducted from saving accounts, profit and loss sharing accounts and other similar accounts having a balance of Rs44,415 or above, on the first of Ramazan.According to Met Office Ramazan moon is expected to be sighted on May 6 and the holy month would start from May 7.To be liable for Zakat one's wealth must amount to more than a threshold figure, which is called ‘Nisab&.Zakat is one of the pillars of Islam which is a form of compulsory charity.
It is distributed with an aim to ease the suffering of the poor.TheIndianSubcontinent has not verified the content of the source.
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