Zakat definition

Zakat has the same meaning as in Zakat and Ushr Ordinance, 1980 (XVIII of 1980) Words and expressions used but not defined herein shall have the meanings assigned to them in the Rules and Regulations. Words importing persons include corporations, words importing the masculine gender include the feminine gender, words importing singular include plural and words “written” or “in writing” include printing, engraving, lithography or other means of visible reproduction.
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Zakat means an obligatory payment made annually under Islamic law on certain kinds of property and used for charitable and religious purposes.
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Zakat means the obligation that an individual has to donate a certain proportion of wealth each year to charitable causes.
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Examples of Zakat in a sentence

  • Furthermore, tax and Zakat laws, including rates of taxation and of withholding tax, are subject to amendments from time to time.

  • The Fund is Saheb-e-Nisab under the Zakat and Ushr Ordinance, 1980.

  • Units held by resident Pakistani Unit Holders shall be subject to Zakat at 2.5% of the value of the Units under Zakat and Ushr Ordinance, 1980, (XVII of 1980), except those exempted under the said Ordinance.

  • They will be interfacing with and providing services to Unit Holders, including receiving applications for change of address or other particulars or applications for issuance of duplicate certificates, requests for income tax exemption or Zakat exemption, etc.

  • The tax and Zakat information given above is based on the Management Company’s tax advisor’s interpretation of the law which, to the best of the Management Company’s understanding, is correct.


More Definitions of Zakat

Zakat has the same meaning as in the Zakat and Ushr Ordinance, 1980. Words and expressions used but not defined herein shall have the meanings assigned to them in the Rules and Regulations. Words importing persons include corporations, words importing the masculine gender include the feminine gender, words importing singular include plural and words “written” or “in writing” include printing, engraving, lithography or other means of visible reproduction.
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Zakat means the charitable contribution required to be made by a Muslim in accordance with the Muslim law.
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Zakat means an obligation that a muslim has to donate a certain proportion of wealth each
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Zakat means an obligatory payment made annually under Islamic law on certain kinds of property and used for charitable and religious purposes. 2.2 Interpretation: In the Conditions,
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Zakat means a mandatory obligation payable, in specific funds, to certain categories of beneficiaries. It is an individual duty whenever its conditions are satisfied.
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Zakat means an annual alms payment which must be paid by Muslims - individuals or corporations- in accordance with the principles of Xxxxx’ah.
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Zakat has the same meaning as in Zakat and Ushr Ordinance, 1980 (XVIII of 1980).
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