Category Archives: Finance

A discourse on zakaat, sadaqah and income tax 1

A discourse on zakaat, sadaqah and income tax (1)

Zakaat, Sadaaqah and Income Tax are all forms of financial obligations demanded from the citizens of a country or people generally either by a government/social institution, religious institution or out of philanthropy. Though they have many similarities, these three concepts have outlined differences. Albeit, as the world advances and globalisation sets in, new perceptions have…