Nisab of Zakat set at Rs88,927 for bank accounts

According to a notification dated March 30, 2022, issued by the Poverty Alleviation & Social Safety Division, Cabinet Secretariat, Government of Pakistan, the “Nisab of Zakat” for the year 1442 AH is Rs88,927 (Rupees: Eighty-Eight Thousand Nine Hundred Twenty Seven only).

No deduction of Zakat at source shall be made, in case the amount standing to credit of an account if they are less than Rs88,927. Deductions are made on savings, profit and loss sharing accounts, and other similar accounts.

Zakat deductions are made on the first day of Ramzan which is likely to fall on 3rd or 4th April 2022, subject to the appearance of the moon.