2. The plot purchased with the intension to make the house or give it on rent. Will zakah be applicable on it?
3. The land purchased with the intension of sell but before passing a year mind has changed and decided to hold whether to construct the house or to give it on rent. Is zakah applicable or not?
4. While purchasing a plot between two partners. X had an intension to sell it and earn the profit for business purposes. While Y had no intention, it was just an investment. After few years, if the plot sold what will be the ruling of zakah on partner Y?
بسم الله الرحمن الرحيم
(1) No, zakah will not be wajib on this plot. Yes, when it is sold out and you have cash money in your hand then zakah will be wajib on cash money as per the rules.
(2) No. When you get rent after the house is built then zakah will be wajib as per the rule of cash on completion of the year.
(3) If you bought it with the intention of business but later on the intention changed then no zakah will be wajib in future.
(4) Zaid whose intention was business i.e. earning profit by selling it he will have to pay the zakah of his share in plot each year. And whose intention was not of business no zakah will be wajib on him on the value of his share in the plot. However, when the plot is sold out and the cash is in hand then zakah will be wajib on cash as per the rule of zakah.
Allah knows Best!
Darul Uloom Deoband
This answer was collected from the official ifta website of Darul Uloom Deoband in India.