Transactions & Dealings >> Other Transactions

Question ID: 31573Country: India

Title: interest of SBI account

Question: I am working as a lecturer in government polytechnic krishnarajpet, mandya distric karnataka.our salary is paid through SB account.As we have to pay annual income tax to the goverment. can we used the interest amount of the bankto pay the income tax at financial year end.

Answer ID: 31573Posted on: Sep 1, 2020

Bismillah hir-Rahman nir-Rahim !

(Fatwa: 758/266/TL=1432) The interest amount can be paid in income tax.

Allah (Subhana Wa Ta'ala) knows Best

Darul Ifta,

Darul Uloom Deoband, India

Related Questions

Q. I am bearing major expneses with my parents in constructing three seprate portion of home on the land fully owned by my parents. my two younger brother are not able to bear any thing at the moment as they have just started their earnigs. i want my brothers to return the amount when ever they are able to, with no time limit and only if they are capable enough to repay with the following term. if the amount of their share/part when coverts into gold becomes X-Grms gold now. they should return to me the amount with which i can purchase X-Grms gold at the time of repay. wethar the amount goes in less or more. is the above condition OK? because the value of 1 lakh will not be the same after 5 or 10 years. if i can purchase some thing with 1 lakh today i cant purchase the same thing with 1 lakh after 5 or 10 years. 1035 views
Q. I am getting a house on heavy deposit. Heavy deposit means giving one big amount to the owner of the flat till the duration of the contract 24867 views
Q. I am an indian but working in dubai. I have a question and confusion in my mind about my over time earning. My duty timing is 7:30 am to 5 pm but my manager force me to do overtime work (untill 7 pm) but due to my phisical and mentally tiredness or some times due to mood less i cannt concentrate on my work so many times I just seat in the office and I get overtime money for that therefore please advice me what to do. 1111 views
Q. I am working in cargo company in dubai, our business is to send customers goods to their country.. when customer come to dubai for purchase if they need money our company give them credit as a loan and how much money we given to customer we charge 5% for that amount and also customer purchase goods from diffrent different companies and tell to collect amount from us so we pay all the amt for customer purchase and charge 5% for the amount we paid. I want to know this is correct to charge 5% for the amount we given cash to customer and we paid to other company for customer purchase.. Pls tell me and also suggest me for future.. 956 views
Q. I have huge loans from the bank and have a lot of difficulty of paying the same. I am praying to allah to resolve me of my difficulties of finishing up the loans to the bank. I have a building in which there are 2 floors vacant and i have refused to let out the building to the banks because thier income is from interest. I would like to know "can I give the building to the bank and take the income and finish of the loans which are prevailing " is it allowed in islam. Please let me know at your earliest. 1133 views
Q. The question is that I am a government employee and I want to purchase a house for my family but I cannot buy in lump sum and can only buy in installments 2703 views
Q. I would like to ask a very important question related to my work. I have been working with bank for more then 14 years. I have been paid the salary for the time and services for the bank. Please advise if the money I earned is OK ? 1244 views
Q. Giving home for heavy deposit 3395 views
Q. I am working as accountant and i have to do bank reconilliation that is to check all banking transactions in a year and is it allowable in shariaha and my salary is halal. my second questions is right now where i am working that company is haveing over draft facility and they pay interest on excess amounts which they take from bank and i have to check and pass this interest entries in books of accounts is it allowable for me as iam only a worker not the availer of this interstable loan. please clarify this in view of islamic laws. salam alikum yours brother in islam 1306 views
Q. I went to a car financer, he gave me the following break up; on road price 8,42,000rs loan amount 5,90,000 monthly instalments for 3 years 19,765. So ultimate price of vehicle will be 9,64,480rs, an excess of 1,21,540rs. If i keep all my instalments on time is this deal allowed, he says that he has calculated the above on a interest rate of 12%, but for me it is just extra profit for him helping me to but the car, regardless of what he calls it if I keep up the payments the deal will be exactly as mentioned and no change shall occur. 1281 views
Q. I'm from India but currently residing in Sharjah, U.A.E. in a rented accommodation. Before going to India for a vacation of two months, my neighbours requested our flat for the stay of their guests during our absence. They said that their guests shall pay the rent to me for their stay & settle other bills like electricity, etc. I took some advance amount before going to India and handed-over the possesion of my flat to their guests. After coming back from vacation & taking back the possession of my flat, I got a doubt whether I had done the right act. I checked my tenancy contract and found a condition that says "Tenant has no right to waive or sublease property for investment, unless authorized by the Department of Economic Development in the emirate and with a written approval of the lessor (i.e. owner)". Kindly let me know whether I have violated the above condition. I would like to know the following: a) Whether the amount received from my neighbours' guests would be halal? b) If not halal, what should I do with the money? should I give it in Charity or should I give it back to the concerned person after dedcuting the repair charges, etc.? c) If I could not find the person from whom I received the rent amount or if the person refuses to take back the amount, what should I do? Anticipating your reply as soon as possible. 1290 views
Q. I want to buy a plot from a plotting scheme i.e. provides installments. The total price of plot is 150,000 Rupees and advance is 15000 then 30 months schedule. There is not penalty charges. But no confirmation of re-pricing. Is is permissible to buy or not? 1287 views
Q. I have a question about loan that I have given 40 Omani Riyals to my friend as loan before six months 1074 views
Q. interest of SBI account 1383 views
Q. I am in IT field. I have a prospective job (contract job) awaiting in an insurance company. My work will involve designing/improving computer systems which will be used in their insurance business. Is it allowed to take on such contract? Please note that my contract will be with intermediatery broker (agent) and that agent will have contract with the company. The agent will be paid by the company and the agent with take a 5-10% cut from the rate I agree with the company and pay the rest to me. 1350 views

Total Questions: 9181

Faiths & Beliefs

Miscellaneous

Prayers & Duties

Social Matters

Transactions & Dealings

Title: interest of SBI account

Question: I am working as a lecturer in government polytechnic krishnarajpet, mandya distric karnataka.our salary is paid through SB account.As we have to pay annual income tax to the goverment. can we used the interest amount of the bankto pay the income tax at financial year end.

Related Questions