Zakaah On Stock And Cash
Question
I borrowed money to start a small business from home about 2 months ago. I bought a few items ordered by customers who haven’t paid for it yet. I also bought some extra items. Do I pay Zakaah on this stock?
Last Ramadhaan I paid Zakaah on money I had saved but this year I do not meet the Nisaab value. When calculating Zakaah, should I add the stock value to my savings?
Answer
You will add all your cash and the retail value of your stock, then subtract the amount you are owing on the loan. If after subtracting the loan amount the cash and stock equate to the Nisaab, then Zakaah becomes compulsory on that amount.
References (Arabic / Urdu sources)
وإن كان ماله أكثر من الدين زكى الفاضل إذا بلغ نصابا (مختصر القدوري ٥١)
الزكاة واجبة في عروض التجارة كائنة ما كانت إذا بلغت قميتها نصابا من الذهب أو الورق يقومها بما هو أنفع للفقراء والمساكين منهما (مختصر القدوري ٥٧)
- Answered by
- Mufti Umar Farooq Rangila
- Checked & approved by
- Mufti Yacoob Vally Saheb
Fatawa SA is an independent, read-only index of fatawa already published by Darul Ifta Ibn Masood. It is not a fatwa service. For your own situation, ask the issuing Darul Ifta directly.