Transactions & Dealings >> Interest & Insurance

Question ID: 65355Country: India

Title: Regarding PPF account

Question: 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 ID: 65355Posted on: Sep 1, 2020

Bismillah hir-Rahman nir-Rahim !

(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 (Subhana Wa Ta'ala) knows Best

Darul Ifta,

Darul Uloom Deoband, India

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Title: Regarding PPF account

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

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