Interest based savings account (2/2)
Question
If a person keeps a residential plot with no defined intention whether it could be used for living in future by himself/family or whether to be sold at a good price if need arises; will zakaat be payable on such property?
Answer
In the Name of Allah, the Most Gracious, the Most Merciful.
As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh
If a person purchased a land with no defined intention, it is not considered as stock in trade. Zakaat is not payable on such property.[1]
And Allah Ta’āla Knows Best
- Answered by
- Mufti Ismail Desai
- Checked & approved by
- Mufti Ebrahim Desai
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