Transactions & Dealings >> Interest & Insurance

Question # : 65355


I am a government employee. Every year I paid 35000 income tax. Can I open PPF account for saving some amount of income tax.

Answer : 65355

Published on: Jun 6, 2016

بسم الله الرحمن الرحيم

(Fatwa: 832/930/L=08/1437)

It is allowable to open PPF account in order to save income tax. However, if you deposit the amount with your own choice then it shall be necessary to give in charity the extra amount which is beyond the deposited amount.

Allah knows Best!

Darul Ifta,
Darul Uloom Deoband

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