Paying interest : paying interest on delinquent income tax

Fatawa Question

I started a company last year. I could not pay income tax that year because it was my first year. Therefore I had to keep it in the bank. This year I will have to pay the income tax of last yare with interest. My question is can I use the interest the bank gave me to pay the interest the tax authorities will charge me with ? Thanks a lot for the answers. Jazakum Allahu Khairan for your constant help

Fatwa

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Publication Date

2008-04-03

Main Subjects

Financial and Accounting Sciences
Religion
Islamic Studies

Topics

• Islamic jurisprudence
• Debt repayment
• Income tax
• Wages
• Usury
• Payments

No. of Pages

1

Data Type

Fatawa

Language

English

Record ID

BIM-730473

• APA
• MLA
• AMA