IslamQA.org Logo

Monthly Expenses and Calculating Zakaat

Answered according to Hanafi Fiqh by Askmufti.co.za

Q: What portion of a housing bond, car loan and any other debt is deductable when calculating zakatable wealth?

A: In the month that Zakaat becomes compulsory on you, deduct that particular month’s expenses (groceries, lights and water bill, maid salary, etc.) from your money (including that month’s bond payment), and pay Zakaat on the remainder. 

Mufti Siraj Desai

This answer was collected from AskMufti.co.za, which is operated under the supervision of Mufti Siraj Desai of Darul-Uloom Abubakr, South Africa.

Find more answers indexed from: Askmufti.co.za
Read more answers with similar topics: