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Is Zakat Wajib on taxi’s?

Answered as per Hanafi Fiqh by Jamia Binoria

What is the Islamic ruling about the following,I have a own taxi which I drive for my daily earnings.Apart from this I have a own house and land.Now my question is,Is Zakaat Wajib on taxi’s?.

الجواب حامدا و مصلیا

Zakath does not become Wajib on the said Taxi and on the value of the owned house. However, if the income derived from the Taxi is in excess to the expenses of the day to day needs and also if the plot is meant for trading and the cumulative value of both (land and the excess income) is amounting to the Zakath Nisab, then after the completion of one year it becomes Wajib upon the applicant to execute Zakath , otherwise no.

This Q&A was indexed from the official english fatwa portal of Jamia Binoria. It is an Islamic educational institute in Karachi, Pakistan.

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