Purification and Zakat (for long-term investing) calculations are in USD per share and based on AAOIFI methodology. AAOIFI requires purification every financial period (e.g. quarterly).
If you follow S&P Shariah’s Dividend-only purification, then remove the impure income % from the dividends you receive. No purification required for non-dividend paying stocks, according to S&P Shariah.
For Zakat, if you did not invest in a company from a long term perspective, then consider the shares as trading goods and give 2.5% of the total value if a year has passed on them.
Company Profile
The Investment Trust of India Limited is an India-based company engaged in the business of advisory services and trading activities. The Company and its subsidiaries are engaged in equity and commodity broking, mutual fund, financial services, lending business, investment banking and third-party distribution activities. It offers a range of products and services from lending, equities and derivatives trading, equity research, commodities trading, portfolio management services, distribution of mutual funds, initial public offering (IPO) and insurance products and investment banking services. The Company’s segments include Advisory Services and Investment Activities and Trading Activities. Its financing includes three-wheeler and commercial vehicle financing, gold loans and micro business loans. Its investments include debt securities, growth opportunities funds and ITI long short equity fund. Its mutual funds include equity mutual funds, debt mutual funds and hybrid mutual funds.
TNVE - Investment Trust of India Ltd
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