• Transactions & Dealings >> Other Transactions

    Question ID: 31783Country: India

    Title: instalmment transaction

    Question: A company sells a car for 1000000/- rs if i pay net amount at the time of purchase but on installment it costs 1200000/- (100000/- per month) for total 12 months. is it permissible or it comes under interest. please reply

    Answer ID: 31783Posted on: Aug 28, 2020

    Bismillah hir-Rahman nir-Rahim !

    (Fatwa: 817/817/M=1432) It is lawful to sell in less price in case of cash payment and increase the price in late payment. It is alright to deal in a car of 10 lakhs for 12 lakhs on instalments, but the matter of cash payment or late payment should be very clearly defined. هكذا في كتب الفتاوي.

    Allah (Subhana Wa Ta'ala) knows Best

    Darul Ifta,

    Darul Uloom Deoband, India