Transactions & Dealings >> Interest & Insurance
Question ID: 4488Country: India
Answer ID: 4488Posted on: Aug 30, 2020
Bismillah hir-Rahman nir-Rahim !
(Fatwa: 1315/1004=H/1429)
Fixed amount is interest which is haram.
If you and the firm have agreed upon some amount of profit, then you should write it clearly.
Allah (Subhana Wa Ta'ala) knows Best
Darul Ifta,
Darul Uloom Deoband, India
Since the income tax system in india has give relaxation for income invested in mutual fund or others, could you please help me with the investor where i can invest my money to save Income tax.
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