2

I have been paying 1/3 part of installments for a property for over a year. Is Zakat applicable on the amount I have paid in installments up until now?

The intention is to sell the property once the installments are finished and the money would be used for further investment on another property OR to build a house for living.

Improve this question

4 Answers 4

Reset to default
1

Waleikum As Salam

If the intention is to sell the house for further investment then it is a form of business and you have to pay the zakah on the value of the house only after the completion of the 1 full year and not before it.

If the house is for personal use then there is no zakah on it.

For details please read this: https://islamqa.info/en/141551

Improve this answer
0

In case of plots that you have not paid in full, the zakat will only be applicable for what you have paid for. For example, consider the zakat on an installment property. if you have paid 40% of the price of a plot, then you will calculate your zakat based on this 40% of the amount that you have already paid. Get a detailed overview of zakat and its calculation read more on zakat on property

Improve this answer
-1

Zakat is for one's earnings. What ever you earn you have to pay 2.5% from that earning.

sorry if my answer doesn't suits your question. But if you earn you gotta give Zakat.

Improve this answer
1
  • Zakat is on savings that remain in your possession for a year, not on earnings, unless that is agricultural income ... which is called Ushr and has a different rate.
    – UmH ♦
    Commented Jul 17, 2017 at 8:16
-1

Walaykum Assalam

This page should let you learn more about Zakat in islam in detail

https://www.al-islam.org/a-summary-of-rulings-makarim-shirazi/rules-zakah

Improve this answer

You must log in to answer this question.

Not the answer you're looking for? Browse other questions tagged .