Investing in mutual funds, LIC policies and fixed deposits

Q: I want to know if I can do some investments in mutual funds, LIC policies, fixed deposits to save income tax?

Bismillaah

A: We do not encourage this.

And Allah Ta’ala (الله تعالى) knows best.

Answered by:

Mufti Ebrahim Salejee (Isipingo Beach)


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This answer was collected from MuftiOnline.co.za, where the questions have been answered by Mufti Zakaria Makada (Hafizahullah), who is currently a senior lecturer in the science of Hadith and Fiqh at Madrasah Ta’leemuddeen, Isipingo Beach, South Africa.

Tags: income, investment

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