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Zakat On Gold Saved To Buy Land
I’ve kept gold with me worth 15 lakh INR. I’ve saved that to buy land in future, may be 4 years later. Will I’ve to pay zakat for that
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2 Replies
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Zakat On Gold Saved To Buy Land
updated 1 year, 11 months ago
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If you meet the nisab then 2.5% savings Zakat is due once a year on the current total value of all of your assets, unless exempt by the state. This includes cash, gold, land, and everything else that is considered an asset. Additional exemption is for items of personal use, for example, your own residence, automobiles, personal jewelry, etc.
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