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I have a family house in my town (India). I have purchased another flat in the city for investment purpose. As I stay abroad, I decided to rent the flat in the city. My question is “do I have to pay zakah on the price I have paid to purchase the flat or just on the rent I am receiving every month? Furthermore, I might stay in this flat in future but still I am not sure about that. Please do reply me in detail.

Answered according to Hanafi Fiqh by Darulifta-Deoband.com
I have a family house in my town (India). I have purchased another flat in the city for investment purpose. As I stay abroad, I decided to rent the flat in the city. My question is “do I have to pay zakah on the price I have paid to purchase the flat or just on the rent I am receiving every month? Furthermore, I might stay in this flat in future but still I am not sure about that. Please do reply me in detail.

Answer

(Fatwa: 584/496/B=1433)

When you have not bought the flat with the intention of business rather you have decided to rent the flat then zakah shall not be wajib on the price of that flat. But as far as the rent which you receive is concerned, if after yearly expenditure something remains from it and it is equal to nisab or you already own nisab then it is shall be wajib for you to pay fortieth part of it as zakah.

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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