IslamQA

Zakaat on Various Forms of Buildings as Investments

Answered according to Hanafi Fiqh by Muftionline.co.za

Q: 1. Is Zakaat payable on freehold vacant land? If yes, how should this be calculated?

2. Is Zakaat payable on buildings purchased as investments (No income derived)? If yes, how should this be calculated?
3. Is Zakaat payable on buildings purchased as investments (Rental income derived)? If yes, how should this be calculated?
4. Is Zakaat payable on buildings purchased as investment in a consortium (No income derived)? If yes, how should this be calculated?
5. Is Zakaat payable on buildings purchased in a consortium (Income derived but not yet distributed)? If yes, how should this be calculated?

Zakaat on Various Forms of Buildings as Investments

A: 1. No.
2. If the building is purchased for rental and leasing zakaat is not payable on it. If it is purchased with the intention of resale then zakaat is payable.
3. As above.
4/5. As above.

( ولا في ثياب البدن ) المحتاج إليها لدفع الحر والبرد ابن ملك ( وأثاث المنزل ودور السكنى ونحوها ) وكذا الكتب وإن لم تكن لأهلها إذا لم تنو للتجارة. (الدر المختار 2/265)

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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