Shah replied on Tuesday, May 24, 2016 03:52 AM
Dear Guest
Any file or plot, regardless of balloted, not balloted, posession, no posession, as long as the property is sellable and is held with the intention of future sale and profit gain, constitues of a tradeable assest and is subject to Zakat if one full year has passed from dae of acquisition of such property.
How zakat has to be calculated (current value, value exactly one year ago, or a mean of value one year ago with current value) is a much more delicate subject on which I am not an authority by any means. And am sure islamic scholars would also differ on this in their opinions if you consult multiple scholars on this. My personal opinion is that one should err on the cautious side and give zakat at the current value (which is likely to be higher) instead of the value exactly one year ago. And unless the property was bought exactly one year ago, the purchase price is irrelevant for calculating Zakat. For example if you bought a kanal file in 9 prism 2 years ago at 45 or 50 it has absolutely no relevance in calculating Zakat for current year. The only two dates (and the property value on those dates) that matter is 1. Current date and current value 2. Value of property exactly one year ago.
Hope I could calrify?
Wa Allah ul Ilm
:) |
