Zakat Nisab set at Rs 80933

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ISLAMABAD: The Administrator General of Zakat has fixed the “Zakat Nisab” for the Islamic year 42-141 AH at Rs 80933.

Last year the ‘nisab for Zakat’ was at Rs46,329

In column 2 of serial no. 1 of the first schedule of Zakat and Ushr Ordinance 1980, there will be no deduction of Zakat on the amount less than the source Zakat 80933.00.

All savings bank accounts, profit and loss sharing accounts as well as other accounts whose credit balance is 80933 according to the Nisab, Zakat will be deducted on the first day of Ramadan i.e. the first day of Ramadan 1442 AH which is expected on 14 or 15 April 2021.

According to Economic Survey 2018-19, a sum of Rs 7,377.678 million had been collected from across the country as Zakat during Financial Year 2017-18.