83 fatwas

  • Zakah on a commercial transport company Date: 4-5-2011

    Asalamu3alaykum. My question is how can a commercial trasnport company determine the nisab in order to pay zakaat. the company is a heavy commercial transport company that deals with transporting halal goods to various destinations. ur quick answer will be highly appreciated. Wasalamu 3alaykum... More

  • Calculating Zakah on a rice mill Date: 6-1-2011

    I am operating a small rice mill, I want to ask on how would I compute my Zakah on the income I derived from its operation. Shall I include the total cost of operation for one lunar year such as a) fuel, oil and other maintenance cost; and, b) total wage for the operator for one year, as basis in computing zakat for my income in the operation of this.. More

  • Zakah on salary and rent money Date: 22-11-2010

    Dear Imam. My friend has a property with annual rental income of 15,000 dollars. He uses this money for family use. He also owns a piece of land worth 16000 dollars. At the same time he has a loan from the bank to the amount of 30,000 dollars. He is employed with 6 figure salary but his savings are Zero. He intends to pay off loan as soon as his.. More

  • Zakah on shares bought for the purpose of benefitting from their revenue Date: 10-11-2010

    Assalam o Alaikum I have invested some money as a sleeping partner with Islamic Bank in form of shares / certificates for 07 years with sole intention of only gaining annual profit / dividends. I do not have any intention to engage in any trade of shares / certificates. The bank further invests that money in providing Islamic financing to its customers.. More

  • He paid Zakah on the profit of a sold piece of land Date: 2-11-2010

    I have purchased a land for real estate business and sold it after three months in which i have got a net profit of 4 lakhs indian currency. i have disbersed 2.5%percent of the profit as ZAKATH WHEN RECEIVED THE AMOUNT.Half of then zakath paid to my younger married dayghter who is poor and i seems that she include in MISKEEN categery of zakath recivers.quar.. More

  • Zakah on a restricted investment deposit in an Islamic bank Date: 8-4-2010

    Assalam o Alaikum I have deposited some money with Qatar Islamic Bank as mudarabah in fixed deposits account for 01 year on 50 % share in profit condition and they give me quarterly profits. Profit is not fixed as a percentage of capital but it is just a predetermined share from the profit they made. i can take any time my capital back if i like. is.. More

  • Zakah on the profit earned from marchandise sale Date: 23-3-2010

    Is Zakat due on financial aid returns from school that was spent before the one year time frame for zakat to be due? and secondly if I made a profit in selling merchandise I worked on do I have to pay 2.5 % on it even if it didnt last one year and I dont remember the amount I spent on the products or supplies needed to make the item.. More

  • Zakah is not due on the value of property given on rent Date: 27-9-2009

    Assalam-o-alaikum I bought a flat for Rs. 13 lacs out of which I borrowed half money from my relatives. And I cleared some loan still I have to pay 2.5 lacs My income from flat is 3500 pm and this ramdhan almost one year is completed So how much money I have to pay as a zakah for this flat This flat I purchase so that I can stay there after my.. More

  • Zakah on extra cars and unsold tradable items Date: 2-7-2009

    Assalamu alaikum.In Islam after our ordinary regular expenses we have to give Zakaat if it reaches Nisaab and one lunar year.I have 2 questions. 1.My relative has 2 cars. Should he give Zakaat for second car before selling?Now ordinarily one needs only one car.So this is extragavance.But second car does sometimes help and comes in need.But will it come.. More

  • Zakah on land whose owner was forced to sell it Date: 18-2-2009

    Assalamo Alaykom W.W. I read a fatwa that it is required to give an annual due zakah on a purchased land that is intended to be sold in particular period, the transaction is considered trading. What about if I buy a piece of land and after 5 year one of the relatives of the previous owner forced me to sell the same land to them am I required to pay.. More

  • Zakah on land prepared for trade Date: 1-1-2008

    al salamu alaikom. My wife has purchased a land and the intention of purchase is to save it for years and then sell it. There was no intention to build any property on the land. The land has now been bought for a year and we are, el-humdellah, about to pay Zakat after verifiying the land's price. The question is: We have some money in the bank that.. More

  • Zakat is not due on the value of the rented property Date: 26-11-2007

    I have few investment property and have no mortgage on this property. I have rental income and paying zakat only on net saving of rental income. I could not find any Hadith ( only Fatwa ) to justify that what I am doing is correct. Meaning paying zakat on net rental income not on value of property. Can you please tell me is there any hadith on this.. More

  • Zakat on money invested in a mutual fund for 10 years Date: 26-11-2007

    I deposited200,000 Riyals in a Mutual fund 10 years ago. The amount has become now261,982 Riyals. What Zakat has to be paid now as nothing has been paid for the last 10 years.. More

  • Combining Zakatable lands with other items of Zakat Date: 21-11-2007

    Assalam Aleikum, ALLAH alone will reward those who work hard in spreading the knowledge of knowing our obligations towards understanding Islamic rules. In Fatwa 81404 & 83761 discussing Wajibat in paying Zakaat for Lands, should someone always buy and sell lands, in one of the Fatwa it said that once the land complete haul (Lunar one Year) it is.. More

  • Zakat on money invested in Mutual Funds Date: 21-11-2007

    A salam Alaikum Wa Rahmatul Allah Wa Barakatuh. Your fatwa # 88050 does not answer the question about Mutual Funds. In America, Mutual Funds are financial tools people purchase similar to a degree to stocks and Bonds in the Banking industry. cash values can go up or down through time. Please give new fatwa. Thank you.. More