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How much Zakat should I pay if I have 4,70,000/- bank loan and a fixed deposit that has not yet completed one year?

Answered as per Hanafi Fiqh by Darulifta-Deoband.com
c (on fixed deposit one year has not been completed) and also I have bank loan on 4,70,000/-. Please tell me how much zakah I should pay in this Ramadan?

Answer

(Fatwa: 1398/855/D=1432)

It is wajib to pay zakah on the total gold price and on 2.5 lakh amount. For what purpose you have taken loan from bank? And in which shape it is present, make it clear then the second part shall be answered.

Allah (Subhana Wa Ta’ala) knows Best

Darul Ifta,
Darul Uloom Deoband

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This answer was collected from the official ifta website of Darul Uloom Deoband in India.

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