Question
I have set aside a large sum of money to buy a house. I calculate my Zakaat on 1 Ramadhaan every year. Do I have to pay Zakaat on this money as well?
Answer
You have to pay Zakaat on 1 Ramadhaan on whatever cash you have on hand, in savings or in your investment account. As long as you have not yet used the money to buy a house, you have to pay Zakaat on it if you still have it on 1 Ramadhaan.
- Source
- themajlis.co.za
- Published in
- The Majlis Vol 23 No 03
- PDF page
- 3
Appears under Questions and Answers (approximate).