As-salaamualaikum I started a business in June 2008—2 months before Ramadaan.I would like to pay my zakaat in Ramadaan 2009 as it will be easier to know when my zakaat is due each year.How do I calculate my Zakaat for the two months prior to Ramadaan 2008. My second question is, do I pay Zakaat on the cost of the goods or the selling price of the goods. Shukrin
Answer
(Fatwa: 1235/253=TL/1430)
The time when you owned the amount of nisab (equal to 52.5 tola silver) and one year passed over it, you will have to pay the Zakah. If you have owned nisab in June i.e. 2 months before Ramadhan, so next year in Jumada II, you will pay the Zakah of all wealth you possess provided you still possess wealth equal to nisab. As far as payment is concerned, you are free to pay it immediately or wait Ramadhan. Zakah can be paid in advance as well as late.
(2) The Zakah will be paid as per the existing sale value of the goods.
Allah (Subhana Wa Ta’ala) knows Best
Darul Ifta,
Darul Uloom Deoband