Question
I have invested a sum of money in a business. How does Zakaat apply to this investment?
Answer
Zakaat has to be paid on capital investment every year. You have to pay Zakaat on the full invested sum if it has been employed in the procurement of stock-in-trade. If part of it has been used to purchase equipment, then there is no Zakaat on that part of the investment.
- Source
- themajlis.co.za
- Published in
- The Majlis Vol 22 No 08
- PDF page
- 4
Appears under Questions and Answers (approximate).