Zakat

Answered as per Hanafi Fiqh by ShariahBoard.org

Assalamualaikum, 

If ones wealth reaches more than nisab e zakat, and then one year later the same person has more than nisab e zakat, and he does not give zakat right away, rather he waits until a few weeks have passed, should he give zakat according to the amount of money he had when the year completed or should he give zakat according to the amount of money he has now?

For the Business Goods, how should the value be calculated? According to how much he wants to sell it for? Or how much he had bought it for? Or how much the market price is? Or according to something else?

How is the market price for a thing calculated when different people are selling it for different prices?

If a person has something that is makrooh-e-tahreemi, then he sells it and gets the money, what should he do with that money?if he gives sadaqa will that be considered as giving away that money?if zakat is given will that be considered as giving away that money?if that money is used in buying halal things and selling them for profit, then what should be done with the profit?

الجواب وباللہ التوفیق

  • Zakat is necessary on the money a person possesses at the end of every [zakat calculation] year. Zakat will not be necessary on the increased amount after the completion of the year. However, if it becomes cumbersome to keep track and there is doubt about last year’s wealth or a person cannot recollect what exactly happened, it would be better to pay Zakat on the amount present at the current time.
  • The valuation of the business goods will be based on the current market value not on the purchase price. There is flexibility in whether you want to take into account the retail value or the wholesale value though it would be to the benefit of the poor if you use the retail value.

ویقوم في البلد الذی المال فیہ۔ (شامي ۳؍۲۱۱ زکریا)

  • If Allaah ta’ala has given affluence, it is better to give Zakat based on the higher value, then the medium. If that is not possible then according to one’s convenience and financial condition.
  • Please describe the makrooh-e-tahrimi act you mentioned in your question so the answer can be given accordingly.
  • فیعتبر قیمتہا یو م الأداء والصحیح أن ہذا مذہب جمیع أصحابنا لأن المذہب عندہم أنہ إذا ہلک النصاب بعد الحول تسقط الزکوٰۃ سواء کان من السوائم أومن أموال التجارۃالخ۔ (بدائع ، کتاب الزکاۃ، فصل فی صفۃ الواجب فی الاموال التجارۃ قدیم۲/۲۲، جدید زکریا۲/۱۱۱)
  • تعتبر القیمۃ الخ (درمختار ) ویعتبر یوم الأداء بالإجماع وہو الأصح الخ۔ (شامی، کتاب الزکاۃ ، باب زکاۃ الغنم کراچی ۲/۲۸۶، زکریا۳/۲۱۱)

واللہ اعلم بالصواب

This answer was collected from Shariahboard.org. It was established under the supervision of the eminent faqih of our era, Hazrat Shah Mufti Mohammed Navalur Rahman damat barakatuhum.

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