ISLAMABAD, Feb 27 (NNI): The government has announced fixation of the minimum amount of Nisab for Zakat which is Rs179,689 for the year 1445-1446 AH.
According to a notification issued by the Ministry of Poverty Alleviation and Social Safety, the Administrator General Zakat has notified the Nisab at Rs179,689 for the Zakat year 1445-46 AH.
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 Rs179,689 on the first day of Ramzan-ul-Mubarak, 1446 A.H.
Ramazan has already been notified as the “Deduction date” likely to fall on 1st or 2nd March 2025 (subject to appearance of the moon) for the deduction of Zakat from Saving Bank Accounts, Profit and Loss Sharing Accounts and other similar accounts having credit balance of Rs179,689 at the rate of 2.50 percent.
No Zakat will be deducted from Current Accounts.
All the Zakat Collection and Controlling Agencies (ZCCAs) are requested to deduct the Zakat accordingly. A copy of return of Form CZ-08 (A&B) may please be provided to the Ministry immediately after depositing Zakat in Central Zakat Account No. CZ-08 being maintained with the State Bank of Pakistan.
Zakat applies to the savings accounts and products maintained by banks, asset management companies, and other financial entities. Meanwhile, customers who have submitted Zakat exemption certificates will not have any deductions.
The amount under Nisab has increased this year from the previous year’s Rs135,179. NNI
