Islamabad May 4, 2019: Administrator General Zakat, Ministry of Religious Affairs & Interfaith Harmony, announced the “Nisab for Zakat” for the Islamic year 1439-40 AH as Rs. 44,415 (Rupees forty-four thousand four hundred fifteen only).
The Nisab was fixed at Rs39,198 in the previous year. No deduction of Zakat at source shall be made in case of the current accounts, or the amount in the account will be lesser than the value announced by the ministry.
The Nisab has been announced after consultation with concerned departments and institutions, a notification of religious ministry said.
According to Islam, Zakat is meant to be paid in order to purify the wealth as the 3rd pillar of Islam. Therefore, those Muslims who have enough wealth have to give a little amount i.e. 2.5% of your wealth to the poor and needy. It is the duty of wealthy people to serve the deprived community by helping them in every possible way.