AOA, I have two plots one is for sale and other one is to build a house for personal use. My intention is to use the money, earned by selling first plot, for construction of a house. In this case, Zakkat is applied on the value of plot for sale?
Habib replied on Saturday, July 2, 2016 02:31 PM
It is your Nayyat, But if You have money today for making home still you will Pay Zakat?? If yes then other plot which you are thinking of selling you should pay Zakat
But all depends on Niyyat as it is Grey area or ssee some scholor |
Arif M® replied on Saturday, July 2, 2016 03:12 PM
Only a qualified mufti can give proper verdict but as per my research if your intention is purely to built house after selling this plot then zakat might not be applicable on it. But I ll still recommend you to get a fatwa from some credible qualified scholar or institute. |
Salman.A® replied on Saturday, July 2, 2016 05:34 PM
Zakat is applicable on the plot which you are holding to sell , even if it is for construction.
Zakat is not applicable on the plot where you want to build your home.
You should consult an AALIM
This is according to sunni school of thought. I don't know about fiq e jafria. Zakat rules are different.
Consult someone you trust and follow them. |
Aldwin® replied on Sunday, July 3, 2016 10:06 AM
As per Imam Malik zakat is paid once when you sell your investment property. As per 3 other schools of thought, zakat needs to be paid every year on property held as investment. regards, |
Not registered yet replied on Sunday, July 3, 2016 11:05 AM
@Aldwin
As per Mr. Rizwan query you are v.right but i want to add if the property is for long term investment like Rizwan, he has to pay Zakat immediatly after selling for one year, but if some one is trading (selling/purchasing), in that case he has to pay Zakat every year on the date decided. this is what i understand, however it should be cross checked. |
User_18647® replied on Sunday, July 3, 2016 11:06 AM
@Aldwin
As per Mr. Rizwan query you are v.right but i want to add if the property is for long term investment like Rizwan, he has to pay Zakat immediatly after selling for one year, but if some one is trading (selling/purchasing), in that case he has to pay Zakat every year on the date decided. this is what i understand, however it should be cross checked. |
