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Do I have to pay Zakat on the deposit money paid for a rented shop?

Answered as per Hanafi Fiqh by Darulifta-Deoband.com
I am having a shop on a rent basis and as per agreement I have paid Rs 7 lakh as an advance (deposit money which will be given back when we give their shop back) for it to the shop owner. Now my question is that do I have to pay zakah on that advance which I have paid to the owner of the shop.

Answer

(Fatwa: 881/927/N=1433)

According to preferred saying, the amount of deposit is conditional debt. (Fatawa Usmani 3:421) Since it is debt so you will have to pay zakah of all previous years after you receive the same. But if you pay the zakah of each year in the concerning years then there is no harm in it.

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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