Can i use interest money for paying income tax?
Question
Can I put my money in to Fix deposit for certain period rather than in saving account in order to get more interest. My niyat is only use interest money for paying income tax.
Answer
In the Name of Allah, the Most Gracious, the Most Merciful.
As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.
It is not permissible to deliberately earn interest even though the intention is to avert oppressive taxes.
And Allah Ta’āla Knows Best
Mufti Ebrahim Desai.
- Answered by
- Mufti Ebrahim Desai
Where scholars differ, it’s safer to take the more cautious view.
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Source: Darul Iftaa Mahmudiyyah — https://askimam.org/public/question_detail/25985
Fatawa SA: https://fatawa.co.za/fatwa/askimam-25985
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