Q: My understanding is that for zakat; Nisab amount should be kept for more than one year. My question is if someone gets 10 Lakh two weeks before Ramadhan, does he need to pay Zakat on this amount which came to his account only two weeks before Ramadhan and is not older than one year?
A: One will calculate zakaat on the zakaat date. Any money obtained before the zakaat date will be included in one’s zakaat. For further details refer to http://muftionline.co.za/node/31
And Allah Ta’ala (الله تعالى) knows best.
Answered by:
Mufti Zakaria Makada
Checked & Approved:
Mufti Ebrahim Salejee (Isipingo Beach)