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Zakat On Savings That Earn Me Monthly Income Not Fixed Deposit
Aoa,
I wanna know, am i eligible to pay zakat?
I own 50000 US dollars and I earn 57000 pkr monthly.
Although, amount is not fixed. i have access to funds and can withdraw anytime but I am using funds to earn monthly income.
I have no other income source for now.
Although, It not been full year while I am holding that amount but after a full year, Is zakat eligible on me considering the situation i described above?
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3 Replies
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Zakat On Savings That Earn Me Monthly Income Not Fixed Deposit
updated 2 years, 6 months ago
3 Members
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3
Replies
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Please see:
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Faisal,
I see that discussion is not answering what I am looking for.
Question is unique because its not fixed deposit.
Can you please answer yourself?
Would be highly appreciated.
Thanks
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If the Principal amount of your investment is at your disposal, then both the Principal amount and the Profit you receive are subject to Zakat on Asset/wealth at 2.5% once a year on assets in your possession as at the date when Zakat is due. This has to do with the date fixed by the state and in its absence, fixed by you once a year for calculation of zakat on assets and has nothing to do whether one year has passed on those assets or not.
Please see for details:
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