My daughter is 4 years old, since we are not allowed to participate in future saving scheme or fixed deposit as it involves interest. For the future of my daughter I have bought gold for her with an intention as a gift to her and never to use for myself but for herself on her education as well as marriage. Other than that she also has some gold ornaments gifted by her relatives. My question is do I have to calculate zakah on my daughter’s gold which I kept for her now or only after she becomes adult.
The gold which you have bought for giving your daughter in gift and yet have not handed it to your daughter rather you have kept it in your possession then its zakah is wajib on you. As long as it is in your possession you will have to pay its zakah. And the jewellery which the relatives have given to the daughter its zakah shall be wajib on your daughter after she becomes adult.
Allah (Subhana Wa Ta’ala) knows Best
Darul Uloom Deoband