KARACHI: The Nisab for Zakat has been fixed at Rs39,198 for lunar year 1438-39 A.H. a notification issued by the Ministry of Religious Affairs & Interfaith Harmony said.
No deduction of Zakat at source shall be made in case the amount in the account will be lesser than the value defined above.
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 17 or 18.
The ministry has also notified first day of Ramazan as the “deduction date”.
State Bank of Pakistan has issued directives to all banks and other relevant institutions in this regard.
