-
Zakat On Money Due To The Builder For Purchase Of A Flat For Dwelling Purpose
I have booked a flat and already paid 80% of the total amount as per the payment schedule based on the progress of the construction work by the builder. The remaining 20% has to be paid on completion, expected in a couple of months.
My question is, whether zakat, due now, will have to be calculated including or excluding 20% of the total amount due to the builder? Please clarify.
Secondly, in India which is a non-Islamic country we pay annual income tax. Whether, the amount paid as Income Tax can be adjusted with the total amount to be paid as zakat? -
3 Replies
-
Zakat On Money Due To The Builder For Purchase Of A Flat For Dwelling Purpose
updated 10 months ago
2 Members
·
3
Replies
-
If the flat is purchased for commercial purposes, it is an investment to earn a profit, your investment is equal to 80% of he amount only on which you have to pay zakat.
All taxes are counted as zakat paid, to any government, Muslim or non-Muslim.
-
I have already mentioned that the flat is being purchased for dwelling purpose and not for commercial use. Please clarify the ruling if it is for living purpose.
-
-
If it is for residence, it is exempted from Zakat.
Sponsor Ask Ghamidi
