Question
I sold my gold ring for R3000. Do I have to pay Zakaat on this R3000?
Answer
Zakaat is not payable on R3,000 since it is less than the Zakaat Nisaab. However, if you have other money as well then you have to add the ring‟s money (when it is sold) to your other cash and pay Zakaat on the total sum if it equals Nisaab or more. Also Zakaat is paid once a year, i.e. 12 months after becoming the owner of the Nisaab value.
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- Source
- themajlis.co.za
- Published in
- The Majlis Vol 26 No 07
- PDF page
- 3
Verbatim verified against the source PDF
Appears under WOMEN AND THE ERROR OF A SHAIKH. This heading is the nearest headline at or before the page and is approximate. Do not cite it alone.