Does one have to be in possession of wealth for twelve months for that wealth to be liable for zakaat?
Question
If i take out my zakaat on the first of ramadhaan and in year one i have $10 000. In year two i have $20 000 on the first of ramadhaan. The additional $10 000 came into my possession 15 Shabaan. Do i pay zakaat on $10 000 or $20 000? Salaams
Answer
Zakaat must be paid on $20 000. (Nurul Idhaah pg.154)
and Allah Ta'ala Knows Best
Mufti Ebrahim Desai
FATWA DEPT.
- Answered by
- Mufti Ebrahim Desai
Fatawa SA is an independent, read-only index of fatawa already published by Darul Iftaa Mahmudiyyah (AskImam). It is not a fatwa service. For your own situation, ask the issuing Darul Ifta directly.