Question
Is there Zakaat on a house which has been bought for rental income or for reselling?
Answer
There is no Zakaat payable on a property purchased for rental income. Zakaat has to be paid if the property is purchased with the intention of reselling. Zakaat should be paid on the market value of the property on the day the Zakaat is paid.
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- Source
- themajlis.co.za
- Published in
- The Majlis Vol 25 No 11
- PDF page
- 3
Verbatim verified against the source PDF
Appears under KUFR GHULU’ OF TABLIGH JAMAAT. This heading is the nearest headline at or before the page and is approximate. Do not cite it alone.