Deducting one's debts when calculating zakaat
Question
I have an auto loan (Islamic) on which some amount is outstanding. I also have a personal loan which I took out for investment. In order to calculate the net wealth for zakaat, am I allowed to deduct the total outstanding loan amount?
Answer
Yes.
And Allah Ta'ala (الله تعالى) knows best.
- Answered by
- Mufti Zakaria Makada
- Checked & approved by
- Mufti Ebrahim Salejee (Isipingo Beach)
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