Question Summary: I purchased futuregrowth and oasis shares before the ruling of impermissiblity of shares was announced. I have removed my cash but left the so called profits. Can this money be used to pay taxes, vat and rates. Eg. vat on a motor vehicle purchase. Question Detail:
I purchased futuregrowth and oasis shares before the ruling of impermissiblity of shares was announced. I have removed my cash but left the so called profits. Can this money be used to pay taxes, vat and rates. Eg. vat on a motor vehicle purchase.
Answer :
In the name of Allah, Most Gracious, Most Merciful Assalaamu `alaykum waRahmatullahi Wabarakatuh It is not permissible to use the dividends (interest) earned from the stock markets to pay taxes, VAT and rates. The money will have to be disposed off in charity without the intention of reward. And Allah knows best Wassalam u Alaikum Muhammed Zakariyya Desai,
Assistant Mufti Checked and Approved by: Mufti Ebrahim Desai
Darul Iftaa, Madrassah In'aamiyyah
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