What is the ruling on calculating zakat by setting the first of Ramadan as the due date for its disbursement, so that whatever is in the bank account is calculated, even if the salary was deposited a few days before Ramadan, and is the remaining loan amount for purchasing a house deducted from the zakat calculation?

It is permissible to designate the beginning of Ramadan as the time for disbursing zakat if it coincides with the end of the hawl (zakat year), or if it is disbursed before the hawl as an advance. However, it is not permissible to delay it after the hawl has completed. It is permissible to calculate a separate hawl for each acquired asset, but it is preferable to disburse zakat on all wealth, even if the hawl has not fully completed for all of it. There is no objection to deducting debt from the zakatable wealth. However, it is not permissible to borrow with usurious interest to purchase a house or anything else, and repentance for such actions is obligatory. It is not permissible to open a savings account in a usurious bank except in cases of extreme necessity, and in such cases, one should be limited to a current account only.