Factors that make Zakaat compulsory

Q: In our time, there are wealthy Muslims to take out loans from the bank for tens of millions of rands for the purpose of business, e.g. constructing an apartment block. Or taking out a mortgage for buying a home. Please advise:

(1) If the amount loaned exceeds their Zakaat asset value, does that mean these Muslims do not have to pay Zakaat, and that they are also eligible to receive Zakaat?

(2) Likewise, is it better for them to use money to pay off debts or Nafl Sadaqah/Lillah projects?

Q: Please advise regarding security deposits paid to the municipality or landlord. Do I include it in calculating my assets for nisaab amount? How would this affect the receiving or payment of Zakaat?

Q: I have a plot for investment purposes worth 70 lac rupees. How much zakat do I have to pay on it?

Q: My father passed away in 2021 and, we, the heirs (mother, and 3 brothers, all adults) inherited property and cash as per shariah.

1.The cash was given by us to our mother. We made her the owner of that cash.

2. The property inherited (2 x 5 marla plots) are combined property of our mother and 3 brothers, the net worth of shares is above the nisaab.

Our mother pays yearly zakat as well as Qurbaani.

The question, Is it compulsory for us 3 brothers to pay zakat and qurbaani, provided that our indiviual monthly incomes/savings are less than the amount of nisaab (cannot even buy or share an animal for sacrifice and neither of us can move/sell, the shares of property, or use for any business means). Will zakat and Qurbani be applicable on this sort of shared property?

Q: Parents save money in a bank for their one child. The age of the child is seven years old. They do not give any zakah for that money. If parents ask the child may we use this money for this (something) purpose and the child says yes, can they use it with the child's permission? Can they do qurbani from that money?

Q: Is Zakaat applicable on diamond jewellery or not?

Q: Ahmad loaned Cassim R100 000 in cash. Cassim gave 2 kruger coins as a security on the loan (todays value approximately R56 000).

Who pays zakaat on the 2 kruger coins? Who pays zakaat on the loan of R100 000? 

Q: If a person is studying at a university and is funded by a government bursary as well as gets discount by the university but the government bursary only pays fees in January or so, so the student is in debt to the university by the end of year in December, but because the government pays the bursary in January and due to the discount that the university gives there is still an amount left over with the university on the students financial statement stating that the university owes the student some money. So all the years of studies goes on in this way where the excess money left over gets used up completely during the course of the year for fees but by the end of the year the student is in debt and the following year the bursary pays it out and now the university owes the student.

Does the student have to pay zakaat on the left over amount that's reflecting on his financial statement? (Despite this money getting used up during the course of the year completely and despite him not having any access to it) or does he only have to pay zakaat on the money that he has in his possession?

Q: I purchased a piece of land (the land was not yet ready for construction) to construct a house on it when I have money and I want to give it on rent. Is zakaat payable or not on that piece of land?

Q: I have wealth more than nisaab (R50 000) that makes zakaat compulsory upon myself. I took a loan from a relative (R1.2m) to purchase a house. I will be repaying him over monthly installments (R10 000) over the next 10 years. Hence, in essence, my debt is more than my assets.

1. How do I calculate my zakaat?

2. Does this make me a recipient of zakaat?