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Zakat And Loan Amount
Asalam o Alikum,
My question is I have to pay loan of amount 6 Million taken for construction of house from family and friends. My assets and investment worth of 18 Million.
Before calculating zakat do I deduct loan amount from my assets and investment amount than calculate zakat or vice versa?
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1 Reply
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Zakat And Loan Amount
updated 7 months, 2 weeks ago
2 Members
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If you intend to pay the loan, then you can calculate zakat on the rest of the 12 million, if you pay in installments, then you can deduct the intended amount of the laon from the assets, but if you are not paying off the loan immediately, then you have to calculate zakat on whole the assets.
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