How can I avoid paying zakat in PSX

If you do not want the PSX to deduct zakat on your holdings, you can submit a zakat declaration certificate.

The format of the zakat declaration certificate to be submitted to your PSX broker is given on CDC website. Or you can ask your broker to send you the format.

Here is a copy of the Zakat Declaration Form:

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Ask your broker what the value of the stamp paper should be. Mostly it will have to be printed on Rs. 100 stamp paper.

You can then send this stamp paper to your broker and you won’t have to pay zakat through the PSX again.

⚠️ This post reflects the author’s personal opinion and is for informational purposes only. It does not constitute financial advice. Investing involves risk and should be done independently. Read full disclaimer →

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