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Zakat On Asset Acquired After The Zakat Date
AssalamOalikum.
Respected Sir, 1st of Ramdhan is my Zakat Date every year… Problem is I had a Plot buying deal 15 days before 1st of Ramadan , Sale Agreement was written on the same day, but I held the money before completion of paper work. Now I have got complete Authorisation of plot and Paid all amount on 10th of Ramdhan to respective party. Problem is that who has to pay the zakat on amount of plot? Me or the other sale party?
I will be thankful.
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1 Reply
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Zakat On Asset Acquired After The Zakat Date
updated 3 years, 7 months ago
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Zakat is due when you own the asset on your pre-determined date. From the buyer’s standpoint he would be paying the same amount of zakat either way because on the pre-determined date he either owned the property or the cash. Seller will pay his zakat according to what he owned on his pre-determined date.
Please enter appropriate numbers in our Zakat Calculator after reading description for each box. When you reach the end, it will generate a statement showing you exactly what you owe after any applicable deductions, and what percentage was applied to what. It’s also a great way to learn the sharia of zakat.
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