Question:
Assalamu ‘Alaykum.
Alhamdulillah, I have always been over nisab. I received a large amount of money after the start of my lunar zakat year. Do I pay zakat on this amount?
Answer:
Wa ‘alaykum assaalm wa rahmatullah wa barakatuh.
I pray you are well.
In your case, you would have to pay zakat on all the money, gold, and silver in your possession on the zakat date. This includes the money you have had for less than a year. (Maydani, al Lubab)
Please consider giving your zakat help to the many genuinely needy scholars and students SeekersGuidance supports. You can donate here.
May Allah grant you the best of both worlds.
[Shaykh] Abdul-Rahim
Checked and Approved by Shaykh Faraz Rabbani