No zakat deductions to be made on assets less than Rs44,415: Ministry

By MG News | May 03, 2019 at 12:12 PM GMT+05:00

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May 3, 2019 (MLN): The Ministry of Religious Affairs on Friday released a statement which says that for the Zakat year 1439-40 AH, ending on the last day of the Sha’aban-ul-Muazam, 1440 AH, 5^th or 6^th May, 2019 (subject to the appearance of moon), no deduction of Zakat at source shall be made, in case the amount standing to the credit of an account in respect of the assets mentioned in First Schedule to Zakat and Ushr Ordinance is less than Rs. 44,415 on the first day of Ramadan.

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