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Zakat On Sold Buisness
I had a business in UAE which I sold as it was going into loss, now I need to know from Ustad Javed Ahmad Ghamidi that do I have to pay a production Zakat 5% or 10% OR annual wealth Zakat of 2.5% on the amount received from selling the business.
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Zakat On Sold Buisness
updated 2 years, 7 months ago
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If you had loss on a business in a given period that implies that there was no profitable production hence there won’t be any production zakat on it for that period.
As long as you meet the nisab you will still be liable to pay the zakat on your assets excluding those that are in personal use.
You may enter appropriate numbers in our Zakat Calculator after reading the 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 each category. It’s also a great way to learn the sharia of zakat.
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