Assalamualaykum. Zakat….I want to pay the correct amount. How would i calculate it. i read that i would need to take the value of inventory of my business, but i dont have inventory. can i take the business value, or is it only subject to inventory?jewelry, cash on hand, accounts/notes receivable?equity (cash) value of house?
Answer:
(Fatwa: 902/783=B/1429)
Get a list of your business items prepared and then having evaluated their prices pay the due zakah. It is not sufficient to have an estimation of the items only. Yes, if you overestimate them then it may be allowable.
Allah (Subhana Wa Ta’ala) knows Best
Darul Ifta,
Darul Uloom Deoband