Status of Zakat in income tax return?

[Sayub]

There are many products offered by different banks it is possible that you might not have subscribed for the one. Iam maintaining that zakat is deducted, as i was involved in the ICFR exercise of a reputed bank there i learned this. Focussing on the point please clarify what is meant by sec 60(2) and practicality of sec 40(2).<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by student_of_law</i>
<br />Neither any zakat is ever deducted along with payment of profit on debt on my account nor have I seen so in any of my client's statements. Any how if any Zakat is deducted it is a deductible allowance.
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