Do we have to pay zakat on the value of national saving certificates for example if they are of value 50,000 rupees and we get a 6 monthly profit of 12% on them ,how do we pay zakat on that.Also please clarify that if we get those certificates cashed,should we wait for a whole year before paying zakat on that money or we have to pay zakat on that money immediately after encashing it?
Answer:
It is compulsory to pay Zakaat on the entire value of the National Saving Certificate and on the profit at the end of a person’s Zakaat year. (Jadeed Fiqhi Masaail vol.1 pg.216)
and Allah Ta’ala Knows Best
Mufti Ebrahim Desai