ISLAMABAD: In a recent development, the federal government has announced the Nisab for Zakat for the year 1446 AH, setting it at Rs 179,689.
This means that no Zakat deduction will be made from accounts with a balance below this threshold on the first day of Ramzan-ul-Mubarak, 1446 AH, which is expected to fall on March 1 or 2, 2025.
Zakat is deducted from savings bank accounts, profit-and-loss sharing accounts, and all other similar accounts, on amounts beginning from Rs 179,689 and above. All Zakat Collection and Controlling Agencies (ZCCAs) are directed to deduct Zakat at their respective amounts and deposit it in the Central Zakat Account No. CZ-08 at the State Bank of Pakistan.
All the customers who have submitted the Zakat exemption certificates will be exempted from Zakat deductions. The Nisab amount has increased from last year’s value of Rs 135,179, thus increasing the Zakat threshold.
Zakat if you have assets worth 1.1 million
| Assets | Amount |
|---|---|
| Cash in hand & bank accounts | 500,000 |
| Cash reserved for future | 500,000 |
| Cash given out in loans | 50,000 |
| Investments, shares, and saving certificates | 50,000 |
| Total Net Worth | 1,100,000 |
| Zakat Payable (2.5%) | 27,500 |
Zakat if you have assets worth 2 million
| Assets | Amount |
|---|---|
| Cash in hand & bank accounts | 1000,000 |
| Cash reserved for future | 1000,000 |
| Cash given out in loans | 50,000 |
| Investments, shares, and saving certificates | 50,000 |
| Total Net Worth | Over 2million |
| Zakat Payable (2.5%) | 52, 500 |
Zakat Calculator if you have assets worth 5 million
| Category | Amount |
|---|---|
| Cash in hand & bank accounts | 2,500,000 |
| Cash deposited for some future | 2,499,990 |
| Cash given out in loans | 50,000 |
| Investments, shares, saving certificates, pensions | 50,000 |
| Payable Zakat | 125,000 |
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