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Zakat On Selling Daily Usage Products (Retail Business)
If someone sells his Mobile and let’s say he sells it for 45k will he give Zakat of production?
If yes then the amount should meet the criteria of zakat of production and I think 45k doesn’t meet the threshold of Zakat of production in Pakistan?
Anyone having idea about zakat threshold in Pakistan’s scenario?
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4 Replies
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Zakat On Selling Daily Usage Products (Retail Business)
updated 2 years, 8 months ago
2 Members
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4
Replies
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In retail business you’re not producing anything yourself, hence it’s excluded from production/earnings zakat. Hence, 2.5% Zakat will be applicable on trading inventory (maal-e-tijarat) as at the date when “Zakat on Wealth” is to be calculated. Total Zakat would be 2.5% of cash-in-hand plus cash-in-bank plus value of stock-in-hand (Zakat is applicable only if total value is above the set Nisab for Zakat excluding value of items for personal use).
Please see for further details:
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Actually I am asking about selling mobile of one’s own use and then buying a lower priced phone.
Also phone is daily usage thing so we won’t be paying zakat on wealth on its price. Right?
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Yes, that is correct. Your own mobile phone is exempt from Zakat because it is an item of personal use.
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