ANSWER:

No problem, if you have a savings account (providing you do not have the option of current account). You must not opt for saving accounts or riba based accounts just to escape taxes.

You must dispose off any interest that you get to cleanse your wealth of this haram money, without anticipating any reward for it. 

QUESTION: I live in India. As I am working, every year we have to pay income tax. There is an option to avail tax deduction against income earned from bank savings, like if the income earned from bank saving is more than 10,000 we get some tax deduction. Is it permissible to avail this option?

Riba | January 24, 2023 11:05 am
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QUESTION: I have heard from a sheikh that if u pay interest it is not a major sin but still a sin but if u gain interest it is a major sin is he right
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QUESTION: Sheikh my father has a savings account so without his consent can i give interest money from account to needy peoples.