Transactions & Dealings >> Shares & Investments

Question # : 163719

India

I am a central govt employee and paying income tax which is deducted from my salary.
(1) I am investing in PPF account in SBI bank and eligible for some return as a interest.
(2) I am also investing in society run by our office and it is govt registered society. My query is that, can I keep interest amount received from both places equal to amount I am paying as a income tax. Income tax relief over the amount I am investing in PPF annually but no relief over investment made in society of my office.

Answer : 163719

Published on: Oct 16, 2018

بسم الله الرحمن الرحيم



(Fatwa: 1457/1327/L=01/1440)



 



(1) In case of PPF you may keep such amount with you which the government has taken from you in form of income tax.



(2) When there is no use of investing in Office Society then it is useless to keep amount in it. In such case it is better to invest the amount in some lawful business and earn profit instead of investing in it.




Allah knows Best!


Darul Ifta,
Darul Uloom Deoband

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