Published 1 year ago
Last updated 1 year ago
Q: I have a plot for investment purposes worth 70 lac rupees. How much zakat do I have to pay on it?
A: If you purchased the plot of land with the intention of resale, then you should pay 2.5 percent of its market value in zakaat. If you did not purchase it for resale purposes but you purchased it to develop it, then the land will not be regarded as zakaatable wealth and you will not have to pay zakaat on the land.
And Allah Ta'ala (الله تعالى) knows best.
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