Recent Posts

July, 2011

  • 20 July

    Zakaat on Shares

    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 …

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  • 20 July

    Value of zakaatable goods

    Q: I own a textile mill. I first import the yarn from which the material is manufactured. I supply certain companies material at the manufacturing cost plus ten percent profit. I also wholesale fabric at the wholesale price which is approximately my cost plus twenty percent. I am also a …

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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 …

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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

    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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