Title:  I have a query. Please clarify. Alhamdulillah i am a software engineer. Last year for saving Income-tax i had done Fixed-deposit in bank with a clear intention that i would not consume the interest money. But since even after this i had to pay income-tax (Rs.9000/- apprx.) as my salary package is masha-Allah good. I wish to know that out of the interest money earned on the Fixed-deposit [when it matures in future] can i consume Rs.9000, since i had paid that as tax. Please reply.

Question: Assalamu-alaikum, I have a query. Please clarify. Alhamdulillah i am a software engineer. Last year for saving Income-tax i had done Fixed-deposit in bank with a clear intention that i would not consume the interest money. But since even after this i had to pay income-tax (Rs.9000/- apprx.) as my salary package is masha-Allah good. I wish to know that out of the interest money earned on the Fixed-deposit [when it matures in future] can i consume Rs.9000, since i had paid that as tax. Please reply. Jazakallah khairan

Answer ID: 6218Posted on: Sep 1, 2020

Bismillah hir-Rahman nir-Rahim !

(Fatwa: 1550/1330=B/1429)

The nine thousand you have already paid as tax can not be deducted from interest amount that you shall receive in future. But, now you can pay the future tax from the interest amount.