Assalamoalaikum,My question is as: zakat is farz on the cost of property (I mean extra house,shops,land etc)or not. If the house is on rent then zakat will be due on rent and cost both. pl clarify.
Answer
(Fatwa: 378/258/L=1431)
(1) If any thing from above-mentioned articles is not bought with the intention of business then there is no zakah on their value.
(2) In case the house is on rent, zakah shall be wajib on its rent if other conditions of zakah are also fulfilled.
Allah (Subhana Wa Ta’ala) knows Best
Darul Ifta,
Darul Uloom Deoband