I have a daughter who is 6 years of age. 3 years back I bought some gold for her with intention that its her gift and no plan to use myself.
Since we cannot use normal insurance policies or bank fixed deposit, I thought this to be good option for her future safety.
Now my question is, since that gold was gift to my daughter and since she is still not mature, do I have to pay Zakaat on that gold?
Answer
In the Name of Allah, the Most Gracious, the Most Merciful.
As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.
There is no Zakaat on a minor. Thereupon there is no Zakaat on the gold belonging to your daughter.
And Allah Ta’āla Knows Best
Mufti Ebrahim Desai.