zakaat for land ??
Question
A person earns his loving by buying a huge piece of land and then cuts it up and sells it into smaller pieces. Does he have to treat the land as trading stock and pay zakaat on it in that manner or is this view incorrect. If it is incorrect could you please let me know of the correct way of calculating zakaat
Answer
If the person buys the land with the sole purpose of resale, then this land will be regarded as stock in trade. However, if at the time of purchasing there was an intention of using the land for other purposes then no Zakaat will be paid on the land itself. (Hidaaya part1 pg.187)
and Allah Ta'ala Knows Best
Mufti Ebrahim Desai
- Answered by
- Mufti Ebrahim Desai
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