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On which cost should zakah be paid for 10gm of gold: market price or sale price?

Answered as per Hanafi Fiqh by Darulifta-Deoband.com
My question is on which cost of gold either the cost of today market purchasing rates or on the rates of gold sell I have to pay the zakah? For example, if I have 10 gm of gold the today’s market price is Rs.28000.00 approx. And if I am going to sell this gold the shopkeeper purchases not more than Rs.27000.00. So on which cost of gold I may pay the zakah on Rs. 28000.00 or on Rs.27000.00?

Answer

(Fatwa: 1841/1159/D=1432)

You will have to pay your zakah on 28000 as per the market rate.

Allah (Subhana Wa Ta’ala) knows Best

Darul Ifta,
Darul Uloom Deoband

Original Source Link

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

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