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?
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