Zakah on Wealth and Its Profits, and Delaying Zakah Beyond Its Due Time
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Fatwa No. ( 17850 )
Q: We would like you, may Allah reward you with good, to provide us with a legal ruling regarding this matter, which we explain to your eminence as follows: 1- My brothers and I established a charitable association, the purpose of which is to help one another. We decided to form a capital for this association starting from 30/3/1415 AH, and a sum of (110,000) one hundred and ten thousand riyals was formed, to be invested in buying and selling to members and non-members. The capital was supported by monthly installments for another ten months, the value of the monthly installment being five hundred riyals per person, where the last installment is paid at the end of month 12/1415 AH, so that the total amount became one hundred and sixty-five thousand riyals (165,000) at the end of the month of Dhul-Hijjah 1415 AH. 2- We purchased five cars starting from the date 30/5/1415 AH, up to the date 30/2/1416 AH in varying periods, where the total of their profits during that period reached
a sum of (69,885), knowing that these profits are on the cars sold on installment, and the date of the last installment on the cars sold is the end of month 12/1418 AH. 3- The matter of buying and selling is ongoing and will not stop at this point. 4- When we reviewed our records and assessed what we have and what we owe, we wanted to know the zakah of these monies, and we wanted you to issue a legal ruling on how to pay the zakah of these monies and the time for distributing this zakah. And if we want the zakah of the monies to be in the month of Ramadan 1416 AH, since the lunar year has elapsed on some of the money on 30/3/1416 AH, which is the capital paid in cash (110,000), what is required of us in delaying it from 30/3/1416 AH to the blessed month of Ramadan 1416 AH? And is it permissible for us to pay zakah on these monies collectively, namely: the capital together with the gains? Note: It became clear from our records that the activity of the association up to the date 30/2/1416 AH, the amount is (234,885), and this amount is debts owed by brothers among the members of the association (monthly installments) which end at the end of Dhul-Hijjah 1418 AH, knowing that the cash on hand up to the end of the date 30/2/1416 AH is only a sum of (25,731) and nothing
else. Please inform us, may Allah reward you with good.
A: Zakah is obligatory on wealth and its fixed, received and unreceived profits after the passage of a lunar year from the date of acquiring the wealth, and it is not permissible to delay paying the zakah beyond its due time; rather, it is obligatory to hasten to pay it at its time. And success is from Allah, and may Allah send prayers and blessings upon our Prophet Muhammad, his family, and his Companions.
Q: We would like you, may Allah reward you with good, to provide us with a legal ruling regarding this matter, which we explain to your eminence as follows: 1- My brothers and I established a charitable association, the purpose of which is to help one another. We decided to form a capital for this association starting from 30/3/1415 AH, and a sum of (110,000) one hundred and ten thousand riyals was formed, to be invested in buying and selling to members and non-members. The capital was supported by monthly installments for another ten months, the value of the monthly installment being five hundred riyals per person, where the last installment is paid at the end of month 12/1415 AH, so that the total amount became one hundred and sixty-five thousand riyals (165,000) at the end of the month of Dhul-Hijjah 1415 AH. 2- We purchased five cars starting from the date 30/5/1415 AH, up to the date 30/2/1416 AH in varying periods, where the total of their profits during that period reached
a sum of (69,885), knowing that these profits are on the cars sold on installment, and the date of the last installment on the cars sold is the end of month 12/1418 AH. 3- The matter of buying and selling is ongoing and will not stop at this point. 4- When we reviewed our records and assessed what we have and what we owe, we wanted to know the zakah of these monies, and we wanted you to issue a legal ruling on how to pay the zakah of these monies and the time for distributing this zakah. And if we want the zakah of the monies to be in the month of Ramadan 1416 AH, since the lunar year has elapsed on some of the money on 30/3/1416 AH, which is the capital paid in cash (110,000), what is required of us in delaying it from 30/3/1416 AH to the blessed month of Ramadan 1416 AH? And is it permissible for us to pay zakah on these monies collectively, namely: the capital together with the gains? Note: It became clear from our records that the activity of the association up to the date 30/2/1416 AH, the amount is (234,885), and this amount is debts owed by brothers among the members of the association (monthly installments) which end at the end of Dhul-Hijjah 1418 AH, knowing that the cash on hand up to the end of the date 30/2/1416 AH is only a sum of (25,731) and nothing
else. Please inform us, may Allah reward you with good.
A: Zakah is obligatory on wealth and its fixed, received and unreceived profits after the passage of a lunar year from the date of acquiring the wealth, and it is not permissible to delay paying the zakah beyond its due time; rather, it is obligatory to hasten to pay it at its time. 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.