Use interest money to pay bribes, bank charges, taxes : using interest to pay taxes

السؤال

Assalam Alaykum Dr Kahf A couple of questions regarding interest. 1) I have invested in post office certificate (Government of India) to save on taxes and after its maturity I will be earning interest on these saving certificates. Can I use this interest to offset my income tax that I pay to Government of India ? 2) I will be taxed on this interest, can I use this interest to pay tax incurred on interest amount 3) I have a saving bank account in bank 'A' of which I have earned interest of X amount. I now need a business loan for which I will have to pay an interest of X amount. Can I offset this interest payment by interest earned from same bank or any other different bank ? Just for info we don't have Islamic banks in India. The above questions are raised in reference to the following answer that I came across one of the Islamic Q and A website, pls reply on mail id. http://www.islam.tc/cgi-bin/askimam/ask.pl?q=9718and act=view Interest monies must be given to the poor and needy who are eligible to accept Zakah without the intention of reward. However, interest received from government institutes, e.g. post office could be used to offset government taxes. Interest received from private banks cannot be used to offset taxes. It may be used to offset interest charged from the same bank. Interest monies cannot be used for building the wall. And Allah Ta'ala knows best Mufti Ebrahim Desai Regards Fanus

جواب الفتوى

أنقر هنالمشاهدة هذا المحتوى

تاريخ النشر

2011-08-23

التخصصات الرئيسية

العلوم المالية و المحاسبية
الدراسات الإسلامية

الموضوعات

• الفقه الإسلامي
• الضرائب
• الربا

عدد الصفحات

2

نوع البيانات

فتاوى

لغة النص

الإنجليزية

رقم السجل

BIM-730460

• APA
• MLA
• AMA