Dear Brother Aslam U Alakum,
I have few questions related to Zakat.
—– When in a year should we perform this duty. Zakat. Is there any particular month. I usually do this in Rmzan.
—– How much we have to pay Zakat on Gold.
—– I have a House and three plots in Pakistan. The House and Plots were purchased by me. The House is in use of my family, my parents and younger brothers and sister are living in that house and whenever i go in Pakistan i also used to live there. Two years back i decided to handover two plots out of three to my brothers and i told them that these plots are their and whenever they want, they can have contract of sale. I mean in my mind they are their now but i applied a condition to them that they have to pay money by themself to transfer the documents. The third plot i have plans to build home on it for myself in future but not now and this is not in use sofar. Neither of them is rented and i don’t have any income from these. All three plots are still registered on my name.
My question is : should i pay Zakat from these plots or not?
I will wait for your reply….
Thanks. May Allah Bless you.,
Wasallam
A Brother
Doha, Qatar
September 2010
Dear Brother
Wa alaikum us salam wa Rahmatullah e wa Barakatuhu
It is a pleasure to receive your mail. The answers to your questions about Zakat are as follows:
Question: When in a year should we perform this duty. Zakat. Is there any particular month. I usually do this in Ramazan.
Answer: There is no fixed time for paying Zakaat. It is upon you to decide the date of assessment. Many people do it on 1st Ramadan. There is no harm in it. I’ve also set the same date for my assessment.
Question: How much we have to pay Zakat on Gold?
Answer: Rate of Zakat on gold is 2.5% of the market value. Get the market rate as on your assessment date and calculate Zakat accordingly. Deduct the Nasaab of 7.5 tola (I think it is equivalent to 90 gram but not sure, ask some goldsmith), if you want. But it is better to pay Zakat on full.
Question: I have a House and three plots in Pakistan. The House and Plots were purchased by me. The House is in use of my family, my parents and younger brothers and sister are living in that house and whenever i go in Pakistan i also used to live there. Two years back i decided to handover two plots out of three to my brothers and i told them that these plots are their and whenever they want, they can construct of sale. I mean in my mind they are their now but i applied a condition to them that they have to pay money by themself to transfer the documents. The third plot i have plans to build home on it for myself in future but not now and this is not in use sofar. Neither of them is rented and i don’t have any income from these. All three plots are still registered on my name.
My question is : should i pay Zakat from these plots or not?
Answer: Your house of residence is exempt from Zakat. From your case, it is apparent that your brothers are the practical owners of the plot, so they should pay Zakat on these plots. You should advise them on that.
According to my research, one should pay Zakat on real estate as follows:
1. If it is rented, 10% of the rent should be paid as Zakat. (Other scholars have a different opinion in this case.) This is like agricultural production on which 10% or 5% rates are prescribed.
2. If it is kept for investment, 2.5% of the value should be paid. (All scholars agree on it.)
Zakat should be paid to really deserving people, not the professional beggars.
Feel free to discuss should you’ve any query.
Remember in your prayers,
wassalaam
Muhammad Mubashir Nazir
Don’t hesitate to share your questions and comments. They will be highly appreciated. I’ll reply ASAP if I know the answer. Send at mubashirnazir100@gmail.com.