Zakaat on prepaid expenditure and deposits
Q: Please advise if the following items (which are treated as assets in the Annual Financial Statement) are included under zakaatable assets for the purposes of calculating your zakaat:
1)Prepaid Expenditure
2)Deposits held by Suppliers or service providers eg. The municipality
Will "Income received in advance" (normally treated as a liability in the Annual Financial Statement) be included in determining your zakaat?