Transactions & Dealings >> Interest & Insurance

Question # : 157327

india

I know interest obtained from Government banks can be used to pay income tax. My question is can the interest obtained from private banks be used for the same?

Answer : 157327

Published on: Jan 3, 2018

بسم الله الرحمن الرحيم



(Fatwa: 396/347/L=4/1439)



 



Paying income tax with interest money received from government banks is equal to returning the amount towards its owner; hence it is allowable to pay income tax with interest received from government banks. It is not the case with the private bank interest; hence it is not lawful to pay income tax with interest money received from the private bank.



 



قال فى الشامي: لأن سبيل الكسب الخبيث التصدق إذا تعذر الرد على صاحبه . (شامى: 9/553 ط: زكريا ديوبند)



 




Allah knows Best!


Darul Ifta,
Darul Uloom Deoband

Related Question