Question
Should Zakaat be paid on the value of cars which are hired out for rental? There is an option to buy the car?
Answer
Since the cars are given on rental, there is no Zakaat on the cars. To buy the vehicle is an option which the lessee can exercise. The primary function of the vehicle is acquisition of rental, hence Zakaat is not payable.
- Source
- themajlis.co.za
- Published in
- The Majlis Vol 28 No 08
- PDF page
- 5
Appears under SHARES ARE HARAAM (approximate).