Zakaat on Business Stock

Q: Do I have to pay zakaat on trading stock in my business and how do I calculate it?
 

A: Yes you have to pay zakaat on business stock. Calculate such stock according to current market value; i.e. the price you would currently pay for the same stock if you had to purchase it from the wholesalers on the day your zakaat is due. This can be obtained by phoning the wholesalers to find out current prices. If prices vary, then work on an average or middle-ranged price.

 

And Allah knows best

 

Mufti Siraj Desai