• Transactions & Dealings >> Shares & Investments

    Question ID: 163719Country: India

    Title: Investment and intrest

    Question: I am a central govt employee and paying income tax which is deducted from my salary. (1) I am investing in PPF account in SBI bank and eligible for some return as a interest. (2) I am also investing in society run by our office and it is govt registered society. My query is that, can I keep interest amount received from both places equal to amount I am paying as a income tax. Income tax relief over the amount I am investing in PPF annually but no relief over investment made in society of my office.

    Answer ID: 163719Posted on: Sep 1, 2020

    Bismillah hir-Rahman nir-Rahim !

    (Fatwa: 1457/1327/L=01/1440)

     

    (1) In case of PPF you may keep such amount with you which the government has taken from you in form of income tax.

    (2) When there is no use of investing in Office Society then it is useless to keep amount in it. In such case it is better to invest the amount in some lawful business and earn profit instead of investing in it.

    Allah (Subhana Wa Ta'ala) knows Best

    Darul Ifta,

    Darul Uloom Deoband, India