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Question Regarding Zakat On Corporate Farming
I am doing corporate tobacco farming myself, and in context of zakat I have to pay 5% zakat as I am investing my money and efforts both Now I have 3 questions regarding zakat on this method of farming.
Question 1- I have taken lands on yearly rent. So before paying zakat should I deduct rent from the amount earned and then apply 5% on the remaining gross?
Question 2: I had borrowed loan/investment for this farming from people which I have to return now. Do I deduct the loan/ investor amount from the gross and then apply 5% zakat on the remaining gross amount and pay zakat.
Question 3: this year’s our crop was severely damaged by the weather due to which we did not make any profit and instead made losses. So does zakat apply if we have not recovered our investments or spending on the crop?
Please if I can get your opinion and the correct method so that I can follow even if it is for me to pay zakat in full Insha’Allah.
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1 Reply
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Question Regarding Zakat On Corporate Farming
updated 1 day, 6 hours ago
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The zakat on production is based on the gross amount, before any deductions.
If you bear a loss, zakat is not applied.
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