Q: I would like to know how should zakaat be calculated on the Mandela Coin. It was bought for about R4,000.00 and now the value is about R20,000.00. Iit contains one ounce of gold. Will zakaat be paid on the gold content or the value of the coin? A: Zakaat has to be paid …
Q: I am married for 5 months. My wife has gold jewellery given to her from her parents as well as jewellery given to her from my parents. Do I have to pay zakaat on this jewellery this year? A: If the jewellery has been in her possession for 12 Islamic months then zakaat has …
Zakaat on Jewellery in Possession for Five Months Read More »
Q: I am liable to pay zakat as I have three gold coins in my possession. I do not have the funds to pay the zakat at this moment. Can I pay it monthly or must I sell one of the coins in order to pay my zakat? A: Zakaat on these coins is only payable …
Q: I purchased a property seven months ago with the intention for staying at first but then decided to sell to purchase my house. Do I have to pay zakaat on the total amount including the rental income? A: In the case you mentioned, you only need to pay zakaat on rental accrued if such …
Q: I am liable for zakat as I have three gold coins in my possession. I do not have the funds to pay the zakat at this moment. Can I pay it monthly or must I sell one of the coins in order to pay my zakat liability? A: Zakaat on these coins is only …
Q: I am liable for zakat as I have three gold coins in my possession. I do not have the funds to pay the zakat at this moment. Can I pay it monthly or must I sell one of the coins in order to pay my zakat liability? A: Zakaat on these coins is only …
Q: Is Zakat payable on Unit Trusts that have not been cashed to date? A. Our Fatwa on unit trusts is that such investment is not permissible. Therefore, Zakaat is necessary on the initial amount invested but one does not need to pay the Zakaat until they are cashed in and money is received. When …
Q: Is Zakat payable on Unit Trusts that have not been cashed to date? A. Our Fatwa on unit trusts is that such investment is not permissible. Therefore, Zakaat is necessary on the initial amount invested but one does not need to pay the Zakaat until they are cashed in and money is received. When …
Q: My father passed away when I was ten, in 1981. My sister who is 6 years older than me, told me recently that she can't remember my father ever talking about paying Zakaat. We were not well off but I'm sure that we had wealth exceeding the Nisaab. Can you please advise us on …
Q: My father passed away when I was ten, in 1981. My sister who is 6 years older than me, told me recently that she can't remember my father ever talking about paying Zakaat. We were not well off but I'm sure that we had wealth exceeding the Nisaab. Can you please advise us on …
