Q: If one has 100gms of gold but takes a loan from one of his relatives of 4 laks, not in gold but on credit, so does he have to pay zakaat?
A: After deducting debts, loans and liabilities, if one’s zakaatable assets reach the nisaab amount, then zakaat will be waajib on him. However, if one does not possess any wealth or one’s zakaatable assets are less than the zakaat nisaab, then zakaat will not be waajib on him.
And Allah Ta’ala (الله تعالى) knows best.
Mufti Zakaria Makada
Checked & Approved:
Mufti Ebrahim Salejee (Isipingo Beach)