Ramadan paying zakat . I have 20000£ in my savings from which I have accumulated 200£ from interest?
Paying zakat on savings . have 20000£ in my savings from which I have accumulated 200£ from interest?
I have 20000£ in my savings from which I have accumulated 200£ from interest . Do I deduct the interest from my savings while paying zakat so I only pay zakat on 19800£ ?
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No such thing as 'interest' in Islam.
Suggest you return it to the bank / company that paid you the interest.
That money (interest) is haram money and cannot be given to a charity. Just like winning a lottery, you cannot donate that money to a charity. It is 'dirty' money in Islam. Neither you nor a charitable organization can accept it. That is, in Islam. Give it back to the kuffar is the best and 'cleanest' way.
John
give away the 200 pounds, then pay zakat on the rest
so pay zakat on the 19800
im pretty sure this is right, ask an imam to confirm
salam and plz make dua I marry the girl i love
You pay zakath for 20000 Pounds @ 2.5% for needy and eligibles. and give the interest separately fully for Public welfare activities.