Transactions & Dealings >> Interest & Insurance
Question ID: 63669Country: India
Answer ID: 63669Posted on: Aug 31, 2020
Bismillah hir-Rahman nir-Rahim !
(Fatwa: 350/350/B=05/1437) In case your daughter’s son is poor then give the amount into his complete possession. He can pay his school fees with this interest amount. It is allowed as per the Shariah. You may also give interest money to any destitute and needy person.
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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