Deducting a car loan repayment Q: I have paid off 3/4th of my car. I have monthly payments. Do I deduct what I still owe or the monthly payments. Deduct one monthly payment or 1 year of payments? A: You can deduct up to one year worth of the loan repayment after interest.And Allah knows best!Mufti Billal Omarjee Author: [email protected] Was this article helpful? Share: Previous Article Previous Article Next Article Next Article Related articles Deductible liabilities Zakat and Tax – Your Questions Answered Keep reading Deductible liabilities Zakat on debt Keep reading Deductible liabilities Should I pay Zakat on my student loan? Keep reading Helping you bring Zakat to life where you live. GIVE ZAKAT APPLY FOR HELP
