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Question ID: 25164
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Asalaam u alaikum,

Dear Mufti,

1.It is permissible to offset income tax paid from one account with interest earned from another account, an intention was made to pay the tax with interest money at the time of paying the tax

2.Is it permissible to offset paye deducted from your salary with interest earned from a bank account

Jazakumullah

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Asked on May 4, 2009 12:00 am
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Private answer
1) If you got the interest. Yes. One cannot give then later offset with interest is not permissible.
2) No
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Answered on May 4, 2009 12:00 am