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Is `Zakah' payable on Bungalows/ Houses or Flats which are given on rent or which remain vacant. If payable, should it be on the original cost or on the market value? PDF Print E-mail

Q: 3- Is `Zakah' payable on Bungalows/ Houses or Flats which are given on rent or which remain vacant. If payable, should it be on the original cost or on the market value?

A: Zakah will be paid only on the rent accrued from the properties owned. Zakah will not be paid for vacant property, unless if procured for resale purposes; more specifically, for the sale of such assets.

Contemporary fatawaa

 
Is Zakah' payable on Furnitures, Fixtures, such as Electric Equipment Airconditioners, Carpets, Crockery Furniture, etc.? PDF Print E-mail

Q: 2- Is Zakah' payable on Furnitures, Fixtures, such as Electric Equipment Airconditioners, Carpets, Crockery Furniture, etc.?

If payable, should it be on the Cost or on the Market Value?

A: Zakah is not payable on furniture, electric equipment, airconditioners, carpets, crockery, and the items that are for household utilization.

Contemporary fatawaa

 
We pay income tax and wealth tax regularly. The rate of wealth tax often corresponds to the rate of Zakah. Can we deduct the amount of such taxes from Zakah? PDF Print E-mail

Q: (1) We pay income tax and wealth tax regularly. The rate of wealth tax often corresponds to the rate of Zakah. Can we deduct the amount of such taxes from Zakah?

A: The payment of government taxes cannot discharge you from the obligation of Zakah. However, if you have paid the taxes prior to Zakah valuation date, as explained in answer to the previous question, the amounts of taxes so paid need not be included in your zakatable assets. But if you have not paid the taxes upto the Zakah' valuation date, even though they have become due, you cannot deduct the amount of taxes from the zakatable assets.'

Contemporary fatawaa

 
VARIOUS ZAKAH QUESTIONS PDF Print E-mail

VARIOUS ZAKAH QUESTIONS

Q: 11- (1a) Is Zakah' payable on a Bungalow / House irrespective of how big it may be, which is occupied by us? If Zakah' is payable, should it be on cost or on the Market Value?

b) If any loan is taken against the Bungalow or House, should Loan amount be deducted before calculating `Zakah' Amount?

A: (a) Zakah is not payable on the Bungalow/House which you own and utilize for residential purposes. However, if the Bungalow/House is purchased or built with the intention of resale, then Zakah will be payable on its market value.

b) A loan taken against the Bungalow/House can be deducted from the Zakatable amount.

Contemporary fatawaa

 
According to the general practice Zakah is paid during Ramadan. The question is whether it is necessary to pay Zakah in Ramadan. PDF Print E-mail

Q: (7) According to the general practice Zakah is paid during Ramadan. The question is whether it is necessary to pay Zakah in Ramadan.

A: Zakah should always be calculated on the basis of the lunar calendar. Every person has, his own Zakah valuation date which he must know. It is the date on which he, for the first time, acquired the ownership of the nisab (minimum quantum) of Zakah, i.e. the value of 613.35 grams of silver.

For example, you have acquired the ownership of 613.35 grams of silver for the first time on the first of 1Vfuharram. The first of Muharram is your valuation date for the purpose of Zakah. You should calculate the value of your zakatable assets owned by you on that date every year. The amount spent before that date need not be included in the zakatable assets. Only the balance remaining with you on the valuation date is subject to Zakah.

If you do not remember the exact date on which you became the owner of the nisab for the first time, you can estimate the valuation date.

Therefore, the month of Ramadan is not the valuation month for everybody, the valuation date differs from person to person.

However, once the amount of Zakah is calculated on the basis of correct valuation date, it may be paid any time after the valuation date. But the payment should not be delayed unnecessarily.

Contemporary fatawaa

 
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