IslamQA.org Logo

Zakaat on Business Stock

Answered according to Hanafi Fiqh by Askmufti.co.za
Q: Do I have to pay zakaat on trading stock in my business and how do I calculate it?
 

A: Yes you have to pay zakaat on business stock. Calculate such stock according to current market value; i.e. the price you would currently pay for the same stock if you had to purchase it from the wholesalers on the day your zakaat is due. This can be obtained by phoning the wholesalers to find out current prices. If prices vary, then work on an average or middle-ranged price.

 

And Allah knows best

 

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:
Subscribe to IslamQA Weekly Newsletter

Subscribe to IslamQA Weekly Newsletter

You will receive 5 Q&A in your inbox every week



We have sent a confirmation to you. Please check the and confirm your subscription. Thank you!