I bought a plot of land for the purpose of business. In future, I have not any intention to build house in this plot. As of required I will sell this plot in future. Please let me know if I have to pay zakah for land that I purchased for business purpose.
If you have bought the land with the intention of selling and still you have the same intention then you will have to pay its zakah on the completion of the year.
Allah (Subhana Wa Ta’ala) knows Best
Darul Uloom Deoband