Answered by Shaykh Faraz Rabbani
I do not own a house and have been saving money since last three years for building/purchasing a house when I return to Pakistan (inshaa Allah next year). My wife has some gold jewellery (more than nisab) which we plan to sell when we build/purchase house. (1) is my saving/wife”s gold for the house zakatable? (2) if zakat is payable both on savings and gold, how can I calculate the value of gold over last seven years.
Assalamu alaikum wa rahmatullah,
I pray this finds you in the best of health and spirits.
The savings money needs to be included in your zakatable assets when calculating zakat, and your wife’s jewelry needs to be included in her zakatable assets. Past unpaid zakat also needs to be paid. When uncertain of amounts or values in the past, then one should make a reasoned estimate.
(ref: Ibn Abidin, Radd al-Muhtar)
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