Zakaat

Zakaat on money owed to a person

Q: I am a young baaligh teenager and I have a share in a business with my friend. We have not yet cashed out and split the money. The money that is owed to me is more than the nisaab amount. However, we do not have that amount of cash on hand and so that is why we have not cashed out and split the profits. Is zakaat liable on me?

Zakaat for a person whose debts are more than his assets

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?

Giving zakaat to a person that one thought was eligible to accept zakaat

Q: I would like some advice on the following matter:

During this year's Ramadhaan, I distributed a portion of my zakaat to a person who was previously regarded as eligible for receiving zakaat. Today, I found out from a family member that after enquiring from their local Ulama, they found out that this person is no longer a recipient of zakaat.

Please advise whether the zakaat will be accepted or whether I have to distribute the sum of that amount again as Zakaat.