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Zakaat on Deposit

Answered as per Hanafi Fiqh by Askmufti.co.za

Q: I have put down a deposit to purchase an apartment, this was done beginning of June 2014. I will make balance payment 1 November 2014. How will this affect my Zakaat?

A: There is no Zakaat on the money that has already been paid as deposit.

If you still have the balance of the money with you at the time Zakaat becomes compulsory on you then Zakaat will be paid on it.

Moulana Yusuf Laher

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

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