Is it permissible to deduct the remaining loan amount when calculating the Zakat on money and shares, or must Zakat be paid on the full valuation?

In the matter of deducting debt from zakatable wealth, there is a well-known difference of opinion among scholars. Some believe in deducting debt absolutely, while others restrict this to hidden assets. Still another group, comprising the Malikis and a view among the Hanbalis, holds that if a person has assets that can cover his debt, those assets should be set against the debt, and the money he possesses should be zakatable. However, if he has no such assets, the debt should be deducted from what he owes. This detailed explanation is the fatwa (the ruling given): so, if you have surplus assets beyond your needs that can cover your debt, set them against the debt and pay zakat on your money; otherwise, deduct the debt from your zakatable wealth. There is another view, which is the most cautious of opinions, that debt does not prevent the obligation of zakat at all.