Fatwa #292904 June 2014United States of America
Clarification on Zakaat question.
Question
This is in reference to your fatwa#26513.
In this you have mentioned that even if someones buys a land with the intention to sell it but not immediately and in future ( 1 year) later, the person don't have to pay zakaat on it.
I've 3 land (plot) which I have bougth with the intension of investment and sell it whenever I see a potential of good returns ( may be a year or later).
I was not aware of this above fatwa and calculated the current market value of these lands. The full zakaat amount is not yet disbursed. Only 50% disbursed.
In the light of above fatwa, can i take out land cost and pay rest of the zakaat .
Please advise.
Jazaak Allah.
Wa'salaam,
Shahzad
Answer
In the Name of Allah, the Most Gracious, the Most Merciful.
As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.
Kindly clarify what you mean by ‘can I take out land cost and pay rest of the zakaat’. What do you mean by land costs and which Zakaat do you refer to, since Zakaat is not payable on the land in reference?
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