A: I am student of tax law. I had spoken to ulema about this and they said that tax is one of the fields in law which is Halaal. In my course we have to deal with aspects such as companies taking loans and want to know whether the interest they pay is deductable or …
Studying Tax Law and Calculating Interest on Loans Read More »
Q: I am remunerated by my employer on a cost to company basis. As part of the salary package every employee contributes to a life insurance and disability policy. Am I allowed to belong to such a fund, use such benefits in the case of my disability and can my next of kin use these …
Q: I am remunerated by my employer on a cost to company basis. As part of the salary package every employee contributes to a life insurance and disability policy. Am I allowed to belong to such a fund, use such benefits in the case of my disability and can my next of kin use these …
Q: I have been having my kitchen extension built. The non-Muslim builder told me the roof window which opens is not available anywhere, so he fitted a window which doesn't open. All monies for window and all building work was paid by me in one total amount as agreed on contract. After a few weeks …
Q: I have been having my kitchen extension built. The non-Muslim builder told me the roof window which opens is not available anywhere, so he fitted a window which doesn't open. All monies for window and all building work was paid by me in one total amount as agreed on contract. After a few weeks …
Q: Can we use interest money to pay for taxes and late penalties to SARS? A: Yes, interest money can be used to pay for these revenues, mainly because much of these revenues go for the upliftment of the poor. And Allah knows best Mufti Siraj Desai
Q: Can we use interest money to pay for taxes and late penalties to SARS? A: Yes, interest money can be used to pay for these revenues, mainly because much of these revenues go for the upliftment of the poor. And Allah knows best Mufti Siraj Desai
Q: Can I use interest money to pay tax (SARS)? A: Remember that placing money in the bank to earn interest is not allowed. However if one had to use the banking system for business purposes and then happens to receive interest, it may be used to pay income tax and rates. Obviously such interest …
Q: Can I use interest money to pay tax (SARS)? A: Remember that placing money in the bank to earn interest is not allowed. However if one had to use the banking system for business purposes and then happens to receive interest, it may be used to pay income tax and rates. Obviously such interest …
Q: A home owner rents out his house bought on interest through the bank. Is he out of Riba? A: He will remain in Riba until the bank loan is not cleared, whether he rents the house or not. The Riba transaction with the bank is a different deal, and renting the house to a …
