IslamQA

Due date for Zakaat for shareholders of a company

Answered according to Hanafi Fiqh by Muftionline.co.za

Q: A group of people formed a company. Some of the partners say that zakaat is due annually on the date of inception. While others say each shareholder needs to pay Zakaat according to the value of his share on the day on which his Zakaat is due annually. Please advise on what date should the Zakaat for the company be calculated?

Bismillaah

A: Each partner should pay according to his date of zakaat.

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

 

Answered by:

Mufti Ebrahim Salejee (Isipingo Beach)

This answer was collected from MuftiOnline.co.za, where the questions have been answered by Mufti Zakaria Makada (Hafizahullah), who is currently a senior lecturer in the science of Hadith and Fiqh at Madrasah Ta’leemuddeen, Isipingo Beach, South Africa.

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