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Zakat On Rental Income
I am retired with some amount in bank. I have a property. Rental income is not enough to support and I have to withdraw from bank to support family expenses. Do I have to pay 10% on this rental income? Do I have to withdraw from my bank and pay 10% Zakat. Please note I pay 2.5% on amounts in bank. Please reply on nbachoo@gmail.com
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1 Reply
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Zakat On Rental Income
updated 3 years, 12 months ago
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If you’re above nisab then zakat becomes due on any production/earnings unless exempted by the state. This also includes rental income. Please bear in mind that any taxes you pay to the state, as well as any expenses incurred for renting the property (mortgage, maintenance, etc.) are deductible.
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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