Do I have to pay Zakaat on the market value or investment value of shares?
Question
Assalam Alaikum Mufti Saheb,
I had invested INR 3 lakhs in shares of some textile, steel, software and petroleum companies in India about 3 years ago. Now the value of those shares have depreciated more than 50%. Do I have to pay zakat on the investment value (ie.3 lakhs Indian rupees) or their current value?
Jazakallah.
Answer
In the Name of Allah, the Most Gracious, the Most Merciful.
As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.
Muhtaram,
JazakAllah. For your question.
One is obligated to pay Zakaat on the current value of the shares that one owns in a company and the dividends that accrued thereof.[1]
And Allah Ta’āla Knows Best
Moulana Ismail Desai,
Student Darul Iftaa
Durban, South Africa
Checked and Approved by,
Mufti Ebrahim Desai.
References (Arabic / Urdu sources)
او ما يساوي قيمته من عروض تجارة (نور الايضاح، ص 209، علمي ببليشرز)[1]
- Answered by
- Moulana Ismail Desai
- Checked & approved by
- Mufti Ebrahim Desai
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