Transactions confused with interest : taking a house loan as a tax shelter

السؤال

Dear Sir Assalamu Alaikum. I am a citizen of India. I am working for the most prestigious software company. My payment is about 20,000 RS P. M. I pay about RS 3,000 every month in the form of income tax here. I had consulted various learned Islamic scholars here. They say that tax is not a liability in Islam and U r not required to pay tax as a religious obligation. I pay the Zakah regularly. What I want to know is what should I do in such Situation ? I had devised a very good and legal (in terms of legal constitution of India) way to prevent myself from paying tax. I saw that every year I am paying about RS 36,000 as Tax. Then why not I take some home loan, buy a home and start paying the installment. In this case the government will give me tax exemption. I will save tax and instead of paying the money to the corrupt officials I will pay to the needy Muslims. If suppose that I am required to pay RS 20,000 instead of RS 36,000 then I save 16,000. I am willing to divert this entire amount to the needy Muslims. One of the scholar here whom I respect very much said that It is not allowed, the reason being that I am paying interest to the bank when I take the loan and Islam does not allow transaction where Interest is involved. What's your opinion sir, please reply soon Allah Hafiz.

جواب الفتوى

أنقر هنالمشاهدة هذا المحتوى

تاريخ النشر

2001-09-19

التخصصات الرئيسية

العلوم الاقتصادية والمالية وإدارة الأعمال
العلوم المالية و المحاسبية
الدراسات الإسلامية

الموضوعات

• الفقه الإسلامي
• الإسكان
• القروض
• الضرائب

عدد الصفحات

2

نوع البيانات

فتاوى

لغة النص

الإنجليزية

رقم السجل

BIM-726589

• APA
• MLA
• AMA