Question
Dear Sir,
To supplement my pension I recently invested in two commercial properties to rent. One of these will be transferred in my name in a few days and its rent will start coming from Jun/Jul 2018. For the second property, I am scheduled to make the final payment in July 2018 and will be transferred to my name on the final payment. The rent will not come in before Jan/Feb next year. So far I have only made partial payment for it. I calculate my Zakat on the 1st of Ramazan every year. As this date is just around the corner I would like to know what is my obligation for payment of Zakat in the above circumstances, particularly :
– Is Zakat payable on the amount paid for the purchase of these properties?
– Is Zakat payable on the rent too which I hope to get in Jun/Jul?
– Subsequently, will Zakat be payable both on rental income and the value of properties (actual payment made and/or value of properties at that time)?
Thanks.
Answer
Salaam
Thank you for writing to us.
Hope this helps.
Regards,
Mushafiq Sultan
Al-Mawrid
Answered by: Mushfiq Sultan
Date: 2018-05-16
