Ihyaaud Deen An Effort to Revive Deen in Totality
Q: Is zakaat fardh on shares? If yes, then how will it be calculated? A: Zakaat is fardh on shares. However, it should be noted that Zakaat is not fardh on the entire share. Rather Zakaat is only fardh upon the Zakaatable assets of the company (i.e. the market value …
July, 2011
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20 July
Zakaat on Properties, Flats, etc.
Q: Is zakaat fardh on properties, flats, etc? A: Zakaat is not fardh on properties, etc. which are not purchased with the intention of resale. One will pay zakaat on the rent received. However, if the properties were purchased with the intention of resale, then zakaat will be fardh on …
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20 July
Offsetting a debt with the intention of zakaat
Q: Will zakaat be discharged by offsetting a debt with the intention of zakaat? A: The zakaat will not be discharged by merely offsetting a debt with the intention of zakaat. However, if one wishes to discharge his zakaat through the debt owed to him, then he should give the …
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20 July
Zakaat on Collaterals
Q: Zaid took a loan from Bakr. Bakr demanded a certain amount of cash and jewelry as collateral for the loan. Zaid paid back the loan after three years. Does Zaid have to pay zakaat on the collateral and jewelry for the previous years? A: Zakaat is not fardh upon …
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20 July
Using zakaat funds to purchase an item for a school
Q: Will zakaat be fulfilled if it is used to purchase an item for a school? A: The zakaat will not be fulfilled unless a poor student is made the owner of the item. ويشترط أن يكون الصرف (تمليكا) لا إباحة كما مر (لا) يصرف (إلى بناء) نحو (مسجد) قال …
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20 July
Discharging zakaat of the previous years
Q: What is the Shar’ee ruling regarding a person who did not discharge the zakaat of his jewellery, wealth and stock in trade for many years? How should he discharge the zakaat of the previous years? A: It is compulsory upon one to discharge the zakaat during the year the …
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20 July
Zakaat on the Payout Received from an Insurance Company for the Previous Years
Q: Is zakaat compulsory on the payout received from an insurance company for the previous years? A: Zakaat is compulsory on the payout received from the insurance company for the previous years. However, it should be known that it is only permissible for one to take back the amount he …
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20 July
Zakaat on a house or car purchased for resale but in the person’s use
Q: A person purchased a car or house with the intention of resale. Since he does not have any other mode of transport or residence, he is using the purchased car or house till he finds a buyer. Will zakaat be fardh upon the house and car? A: In principle …
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20 July
Zakaat on a person who cancels his intention of resale
Q: A person purchased an item for resale purposes but thereafter cancelled his intention. After some time, he decided to once again sell the item. Will zakaat be fardh on the item? A: Zakaat will not be fardh upon the item. However, zakaat will be fardh upon the money received after …
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20 July
Giving Zakaat to a Poor Child
Q: Will zakaat be discharged by giving it to a poor child? A: If the child’s father is wealthy then the zakaat will not be discharged by giving it to him. However, if the child’s father is poor or the child is a poor orphan then through giving him the …