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I own a property of flats, which was considered investment. I closed down my shop. My only income now is from the flats which I use 100% every month. What is the position of Zakat on this property?

Answered according to Hanafi Fiqh by Askmufti.co.za

Q: I own a property of flats, which was considered investment. I closed down my shop. My only income now is from the flats which I use 100% every month. What is the position of Zakat on this property?

A: Zakaat will be on the income from the property and not on the property. If you are using up everything every month then there will be no Zakaat on that. If you have other Zakaatable assets, Zakaat will be compulsory on those assets.

Moulana Yusuf Laher

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