Zakaat on items that one intends selling which were obtained for free
Q: I obtained items for free with the intention of resale. Despite the fact that I get them for free, must Zakaat still be paid on their current market value?
Q: I obtained items for free with the intention of resale. Despite the fact that I get them for free, must Zakaat still be paid on their current market value?
Q: I am a student at university. In possesion I have money that was given to me to cover university expenses. I have around R5000. By the end of the year it will be used up. I would like to know if zakaat is payable on it and wether qurbani is required. I also have a student bank account that doesn't accumulate interest until a year has lapsed. Due to the account being empty after a year, There will be no interest gained or taken, is it permissible. My bursary pays fees late every year and univerity charges me R30 interest. Should I give that R30 as charity, as it is out of my control?
Q: If at the beginning of a zakaat year I have above the nisaab level and then throughout the year it goes up and down of the nisaab level over and over again and at then at the end of the year on the day when zakaat is due the amount of wealth is below the nisaab level, do I have to pay zakaat?
Q: I am an employed person and have purchased a two wheeler today. Do I have to pay zakaat for it and how much?
Q: My question is how is the zakaat 'nisaab' worked out. In other words how is the minimum zakaat nisaab worked out?
Q: My company has a compulsory pension/provident fund that I am compelled to join. There is no option not to join. I was aware of it when I joined the company, and I signed all the necessary paperwork. Does it still count as a pension fund that is forced upon me, and do I still need to pay Zakaah on the payout. If Zakaah needs to be paid, then on what amount. Usually, the company takes off a certain amount off your salary, and puts it towards the pension fund. You have no access to this money while in the employ of the company. When you leave, the company subtracts off the tax portion, and then only gives you what is left. Does zakaat need to be paid on the full amount of the pension, or only the amount that is actually paid out (which has the tax subtracted)?
Q: Please advise me on the following concerning paying of zakaat. I have invested capital in a partnership which provides a service. There is no stock which is purchased for selling. Do I pay zakat on the full capital investment as well as profits earned or only on profits earned?
Q: My brother for the last 8 months has saved money to build his house, plus he received a substantial amount as a qardh-e-hassan. How and when will he calculate his zakaat since he is currently building his house?
Q: My husband bought a flat for investment purpose only. We will not be living in it. He is currently renting out the flat and with that flat money his paying his bond. Due to it being an investment, does he pay zakaat on the value of the property?
Q: Please advise me regarding how I should pay zakaat on retirement annuities and pension funds.