Question
Must one pay Zakaat on a retirement fund? If yes, should Zakaat be paid on the whole amount or on the amount after tax is deducted?
Answer
Once the retirement fund money has been received, then Zakaat will be payable on the balance after paying the tax. As long as the money has not been given to you, Zakaat is not payable.
- Source
- themajlis.co.za
- Published in
- The Majlis Vol 24 No 02
- PDF page
- 3
Appears under MOLVI VANKER - THE PRO-SHIAH BID‘ATI| (approximate).