If you are looking or searching for the Zakat Nisab 2020 Pakistan State Bank Cash Gold then you are on the right page. Here you can get the information related to this and is very helpful for you. The amount of Zakat can be calculated on the wealth that you have retained for one lunar year. According to Islam, 2.5% of that wealth would be the Zakat Nisab and you have to contribute it to the needy. The percentage of Zakat is Universal all over the world. The Zakat is not only payable on Gold, Silver, or Cash which is a perception of every mind but it is also payable on the business profit or your shares or the Bonds you have. In our country Pakistan the 1st Ramadan is the holiday of Bank for customers but not for the employees because on that day the zakat is deducted from every single account according to the Zakat Nisab in Pakistan set by the State Bank of Pakistan SBP.
Zakat Nisab 2020 Pakistan State Bank
This year, the Zakat Nisab is set to Rs.46,329. That means if your amount in the bank is less then the Rs. 46,329/- then no Zakat would be deducted from your account but if the amount is more than that the Zakat is deducted automatically. Well, there are a large number of bank depositors in Pakistan who write to the bank to not deduct Zakat from their account as they prefer to do Charity to their close Relative which has more importance while charity. Every year billions of Rupees are collected from the Banks all over Pakistan including the banks in Azad Jammu Kashmir and Gilgit Baltistan and FATA Areas Too.
Zakat Nisab on Gold 2020
When your personal wealth is more than the Zakat Nisab set by the State Bank then you are obliged to giver Zakat to the needy. If you need Zakat Nisab on Gold, then the gold you have for more than one year and is 87.48 grams/7.5 Tola/3 ounces in weight then you are liable to pay Zakat on that or if you have 52.5 Tola/612.36 grams of Silver. The Current Rate of Gold is Rs. 102,680 24K per Tola so the formula to calculate Zakat is simple that Gross Wright of Gold – Weight of Stones X Price of Gold X 2.5%.
Zakat Nisab on Cash 2020
As mentioned above in this article that Zakat Nisab on Cash 2020 is set by the State Bank of Pakistan is Rs. 46,329/- that is more than the last year. The rate increases as the rate of Gold increases. So, this was all about Zakat Nisab 2020 Pakistan State Bank Cash Gold. Hopefully, you are confident about the post. Stay with us for more educational news.