Question # : 156690
India
Answer : 156690
Published on: Dec 12, 2017
بسم الله الرحمن الرحيم
(Fatwa: 269/204/SD=3/1439)
Basically it is unlawful to take home loan. However, if there is no lawful method to save oneself against income tax then since income tax is non-Shariah tax thus it is allowable to take home loan in order to save one’s hard-earned income. Hence in the question mentioned above, if you pay more than one lakh rupees yearly as income tax and in case you take home loan then you may save seventy thousand yearly and likely you will be saving seven lakh rupees within ten years then in such a case in order to save your hard-earned income it is allowable to take home loan.
Allah knows Best!
Darul Ifta,
Darul Uloom Deoband
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