DEDUCTION OF ZAKAT BANKS ACCOUNTS RAMZAN 2022

Govt. of Pakistan CABINET SECRETARIAT POVERTY ALLEVIATION AND SOCIAL SAFETY DIVISION vide notification no. CE-1001(36)/NISAB/1442-43/2022 Dated 30 March 2022 has issued a notification regarding deduction of Zakat from bank accounts having asset code No 101.

DEDUCTION OF ZAKAT AT SOURCE IN RESPECT OF SAVING BANKS / PROFITAND LOSS SHARING AND SIMILAR BANK ACCOUNTS ASSET CODE NO . 101 ) AND DEPOSIT THEREOF IMMEDIATELY AFTER DEDUCTION DATE

I am directed to say that Administrator General Zakat has notified the ” Nisab of Zakat ” for the Zakat year 1442-43 AH at Rs.88,927 / – ( Rupees : Eighty Eight Thousand Nine Hundred Twenty Seven only ) . 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 column 2 of Serial No.1 of the first schedule of Zakat and Ushr Ordinance , 1980 , is less than Rs.88,927 / – ( Rupees : Eighty Eight Thousand Nine Hundred Twenty Seven only ) on the first day of Ramzan – ul – Mubarak , 1443 A.H.

First day of Ramazan – ul – Mubarak has already been notified as the ” Deduction date ” likely to fall on 3rd or 4th April , 2022 ( subject to appearance of the moon ) for deduction of Zakat from Saving Bank Accounts , Profit and Loss Sharing Accounts and other similar Accounts having credit balance of Rs.88,927 / ( Rupees : Eighty Eight Thousand Nine Hundred Twenty Seven only ) .

All the Zakat Collection Controlling Agencies ( ZCCAs ) are requested to deduct the Zakat accordingly . A copy of return of Form CZ – 08A may please be provided to this Division immediately after depositing Zakat in Central Zakat Account No.CZ – 08 being maintained with the State Bank of Pakistan .