Zakaat on collaterals
Q: I have a shop, and pay 1200 as rent. I have given some money as security to the landlord. Should I add this security money while calculating nisaab for zakaat? Please reply?
Q: I have a shop, and pay 1200 as rent. I have given some money as security to the landlord. Should I add this security money while calculating nisaab for zakaat? Please reply?
Q: I have loaned some money to a relative and wanted to know while paying zakaat, do I have to include the loaned amount or only when I receive it?
Q: At work, I have got a lot of leave days due to me for the last two years of employment. The company has agreed to pay me out for these leave days. However I have not received payment for these leave days yet and now my zakaat payment for the past year is due. Do I include this amount in my zakaat calculation and pay zakaat on it or is zakaat due on it when I receive the money from my employer.
Q: How is Zakaat calculated on shares in property investments, e.g. Al-Mabroor Property Investments etc. a) Is Zakaat payable on the entire investment amount or b) Is Zakaat payable only on the income received which one has in his possession when Zakaat is due?
Q: Do I have to pay the Zakaat on rental income after taking away all expenses or I have to pay Zakaat on the purchase price of the house?
Q: When paying zakaat on unit trusts investments, does one pay on the original amount invested or the current value?
Q: Is zakaat payable on outstanding debts owed to a person in lieu of merchandise sold? If the debt is paid after few years, will zakaat have to be paid for the previous years?
Q: Is zakaat payable on outstanding debts owed to a person in lieu of services carried out e.g. accountant’s fees, lawyer’s fees, etc? Will one include these outstanding debts when calculating one's zakaat on one's zakaat date? If the wealth is paid after a few years, will zakaat have to be paid for the past years?
Q: I have shares with my company. I have held an x amount of shares for an entire year. This year the share value is unchanged from last year. Is the zakaah due still 2.5% on the value of all shares held by myself? Please advise.
Q: For zakaat, the cash is totaled up and 2.5 % is to be paid, but gold jewellery and silver are they separate? For example, someone has gold above the nisaab amount, they evaluate its worth and separately, calculate 2.5 % from its worth, or do they add its worth to the cash total and pay 2.5 % on the lump sum? Or do the cash amount and gold amount separately?