The government has fixed the nisab of zakat at Rs80,933 rupees for lunar year 1441-42 Hijri, according to a notification issued by the Zakat administrator general.
People having Rs80,933 balance in savings, profit and loss sharing or similar bank accounts on the first day of Ramazan will have 2.5% zakat deducted on their total balance.
If a Muslim has money or assets worth the nisab, then it becomes mandatory for them to pay zakat to the poor and needy.
Zakat is determined based on the wealth of a person. It means the greater the assets, the greater the value of zakat.
