Question
I bought a car with the intention of selling it. However, I am also using it for my own purposes. Do I have to pay Zakaat on the car?
Answer
If the asset was initially acquired with the intention of selling it, then Zakaat has to be paid on its value. If you have cancelled your intention and are now using it for your own purposes, then Zakaat is not payable.
- Source
- themajlis.co.za
- Published in
- The Majlis Vol 28 No 02
- PDF page
- 7
Appears under THE 6 FASTS OF SHAWWAAL (approximate).