Discharging zakaat after a lunar year
Question
Does one have to pay zakaat only after one has had the stipulated amount of wealth in ones possession for a year or does one have to pay zakaat immediately after receiving the stipulated amount?
And what is the amount that if reached, one will have to pay zakaat?
Answer
If you were already owning the nisaab amount of zakaat before receiving this new wealth then you will just add this new wealth to the other wealth and pay zakaat on your normal yearly date of zakaat for all. And if you did not own the nisaab amount of wealth before this then you will start counting the year from the date you received this amount. Upon the completion of an entire lunar year from that date, you will discharge the zakaat of whatever wealth you have on that date.
The current value of the zakaat nisaab is R7528. It should be noted that the value of the zakaat nisaab fluctuates from time to time.
And Allah Ta'ala (الله تعالى) knows best.
- Answered by
- Mufti Ebrahim Salejee (Isipingo Beach)
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