Zakaat on Life Insurance
Q: Is zakaat fardh upon life insurance which matures after the death of the policy holder?
Q: Is zakaat fardh upon life insurance which matures after the death of the policy holder?
Q: If a person purchases raw material with the intention of manufacturing products to be sold, then will zakaat be fardh on such raw material?
Q: I own a textile mill. I first import the yarn from which the material is manufactured. I supply certain companies material at the manufacturing cost plus ten percent profit. I also wholesale fabric at the wholesale price which is approximately my cost plus twenty percent. I am also a retailer and supply the public at the retail price. When calculating my zakaat, which market am I obligated to take into consideration? Should I evaluate my wealth in accordance to the retailer’s market, wholesaler’s market, or the manufacturer’s market?
Q: Is zakaat fardh on shares? If yes, then how will it be calculated?
Q: Is zakaat fardh on properties, flats, etc?
Q: Is zakaat compulsory on the payout received from an insurance company for the previous years?
Q: A person purchased an item for resale purposes but thereafter cancelled his intention. After some time, he decided to once again sell the item. Will zakaat be fardh on the item?
Q: Is zakaat waajib upon life insurance which matures after the death of the policy holder?
Q: Is zakaat waajib on the payout received from a provident-fund, pension-fund or retirement-fund?
Q: Zaid took a loan from Bakr. Bakr demanded a certain amount of cash and jewelry as collateral for the loan. Zaid paid back the loan after three years. Does Zaid have to pay zakaat on the collateral and jewelry for the previous years?