Bank Zakat Deduction 2021

Government of Pakistan, Cabinet Secretariat, Poverty Alleviation & Social Safety Division has issued the official Notification letter on 8th April, 2021 in connection with bank zakat deduction 2021 at source in respect of saving  banks/profit and loss sharing and similar bank accounts (Asset Code No. 101) and deposit thereof immediately after Zakat deduction date 2021.

Zakat Deduction on Current Account & Saving Account 2021

According to the letter, I am directed to say that Administrator General Zakat has notified the ” Nisab of Zakat” for the Zakat year 1440-41 AH at amount Rs.80,933.00/- (Rupees: Eighty thousands Nine Hundred thirty-three only). No deduction of zakat cutting in banks 2021 at source shall be made , in case the amount sanding 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.80,933.00/- (Rupees: Eighty thousands Nine Hundred thirty-three only) on the first day of Ramadan-ul-Mubarak, 1442 AH.

First day of Ramadan-ul-Mubarak has already been notified as the “Bank Zakat Deduction Date” likely to fall on 14th or 15th April, 2021 (subject to appearance of the moon) for bank zakat deduction 2021 from saving Bank Accounts, profit and loss sharing accounts and other similar accounts having credit balance of Rs.80,933.00/- (Rupees: Eighty thousands Nine Hundred thirty-three only).

All the Zakat collection controlling agencies (ZCCAs) are requested to direct 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 State Bank of Pakistan.

Bank Zakat Deduction 2021

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