Q:
I purchased a property seven months ago with the intention for staying
at first but then decided to sell to purchase my house. Do I have to
pay zakaat on the total amount including the rental income?
A:
In the case you mentioned, you only need to pay zakaat on rental
accrued if such rental has been saved up and one Islamic year has
passed over it. There is no zakaat on the total value of the property.
And Allah Ta'ala knows best.
| Q: Is zakaat payable on one’s share of inheritance that was acquired just a few weeks ago?
A:
If one has inherited cash, gold, silver, or stock then zakaat must be
paid on that share by adding its value to existing zakaatable assets.
This share will be included in the rest of one’s zakaat. However, if
one is not a zakaat payer and has no other zakaat to pay then zakaat on
a share of inheritance is not waajib immediately. Zakaat on such assets
is only payable after one Islamic year from the time those assets came
into one’s possession. If one inherited a share in property then zakaat
is not payable at all. Because there is no zakaat on property.
And Allah Ta'aala knows best.
Questions answered by Ulama of http://www.alfarouq.co.za |