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Do I have to pay zakat on 8 lac invested?

Answered as per Hanafi Fiqh by Darulifta-Deoband.com
I have invested 8 lac in a buissness. I want to know do I have to pay zakat on invested money?

Answer

Fatwa: 630/541/B=1433

Yes, you will have pay zakah (2.5% annually) on the money invested in business. If you have gained some profit, zakah shall be wajib on the profit as well.

Allah (Subhana Wa Ta’ala) knows Best

Darul Ifta,
Darul Uloom Deoband

This answer was collected from the official ifta website of Darul Uloom Deoband in India.

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