Salaams, I invested ?15,000 pounds in November 2005 until November 2007 when I got a return of ?45,000. I paid Zakat on the ?15,000 for 2 years. I reinvested the ?45,000 in November 2007 for another 2 years. Do I need to pay Zakat on the ?45,000 as I have had the amount less the 1 year as we are in September 2008? On what amount do I need to pay zakat?
Answer
(Fatwa: 1603/1520=D/1429)
In November 2007, your amount increased from 15000 to 45000, so in November 2007 you must have given the Zakah of total 45000. Likewise in November 2008, you will have to give Zakah of total amount whether it increases or decreases (if it is equal to nisab). Your Zakah year shall complete in November; therefore you should clear your accounts in November.
Allah (Subhana Wa Ta’ala) knows Best
Darul Ifta,
Darul Uloom Deoband