Calculating zakaat on investments

Answered according to Hanafi Fiqh by Muftionline.co.za

Q: I am a widow since four months. I have two daughters which are married. I don’t have any brothers. In the presence of my husband there were 13 lacs deposited in saving. Every month I receive 10 thousand from income which is not enough for monthly expenditure that’s why my husband’s elder brother supports me. So basically my question to you is that am I supposed to give zakat on the 13 lacs?

Bismillaah

A: You will have to look at your financial statements and see what amount was invested in fixed assets (non-zakaatable) and what amounts are in zakaatable assets, like cash and trade in stock. That which is zakaatable will be compared against your debt. If your debts are in access then you are not liable for paying zakaat.

And Allah Ta’ala (الله تعالى) knows best.

 

Answered by:

Mufti Ebrahim Salejee (Isipingo Beach)

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