Beginning of the lunar year for the obligation of zakah
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Fatwa number ( 20219 )
Q: I built a residential villa for the purpose of living in it, using a loan from the Real Estate Fund. However, circumstances prevented me from moving into the villa after its construction was completed. I put it up for sale and it remained on the market for several years before it was sold. Therefore, I hope you will inform me: Does the period during which this villa was offered for sale incur zakah during those years? Please note that this villa was intended for residence during its construction, as I mentioned, and there was no intention to sell it. How is its zakah calculated if there is zakah due?
A: The lunar year for the obligation of zakah begins from the moment of the intention to sell it. Once the lunar year is completed, zakah becomes obligatory on its value. You estimate its value at the completion of the lunar year and pay zakah equal to one-quarter of one-tenth of its value. This is for the first year, and likewise for the subsequent years, you estimate its value at the beginning of each lunar year based on what it is worth at the time the obligation arises, and you pay its zakah.
And success is from Allah, and may Allah send prayers and blessings upon our Prophet Muhammad, his family, and his Companions.
Q: I built a residential villa for the purpose of living in it, using a loan from the Real Estate Fund. However, circumstances prevented me from moving into the villa after its construction was completed. I put it up for sale and it remained on the market for several years before it was sold. Therefore, I hope you will inform me: Does the period during which this villa was offered for sale incur zakah during those years? Please note that this villa was intended for residence during its construction, as I mentioned, and there was no intention to sell it. How is its zakah calculated if there is zakah due?
A: The lunar year for the obligation of zakah begins from the moment of the intention to sell it. Once the lunar year is completed, zakah becomes obligatory on its value. You estimate its value at the completion of the lunar year and pay zakah equal to one-quarter of one-tenth of its value. This is for the first year, and likewise for the subsequent years, you estimate its value at the beginning of each lunar year based on what it is worth at the time the obligation arises, and you pay its zakah.
And success is from Allah, and may Allah send prayers and blessings upon our Prophet Muhammad, his family, and his Companions.
Source
www.alifta.gov.sa
The Arabic text is copied verbatim from the original source, without any edits.