I have a wife and 2 children, i have not my own house and residing in my uncle’s house without paying rent, I have one plot which was bought for Rs.200000 to build a house on it with the money of myself and my wife’s of rs.45000 and 155000 respectively I have not enough money to build house on it, my other property is 5.25 tola gold of my wife which was given to her by my father at the time of our marriage, my bank balance is rs 50000 and bank bal. of my kids rs 50000. the market value of the plot is rs.300000, whether zakat is furz for me or my family and how much to pay every year and whether qurbani is wazib for me,my daughter is 6 years and son is 3 years old
Answer
(Fatwa: 1994/1604/B=1431)
Zakah is not wajib on the plot that you have purchased to build home. However, it is necessary to pay the zakah of the amount of fifty thousand that you have kept for your children. Each year you will have to pay 2.5 % as zakah of the whole amount. Qurbani is wajib only on you not on your minor children.
Allah (Subhana Wa Ta’ala) knows Best
Darul Ifta,
Darul Uloom Deoband