The Ruling on Zakah in Debts and What Is Prepared for Sale
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Question:
This is another question. The questioner says: It is customary to give zakah in Ramadan. Shortly before the beginning of this year, 1418 AH, I bought three plots of land on credit for a period of three years for a sum of two million, or upon sale. I had a sum of money with which I started construction; some of it is now at the finishing stage, and some is in its initial stage. I hope to sell by the end of this year or before it, if Allah wills. I also took tools on credit from some plumbing, electrical, and tile shops, to be paid upon sale. And I have a person to whom I owe five hundred thousand riyals, which I have not given him yet, but I have put it into the construction until the time of sale comes. Is there zakah on these two things or not?
Answer:
You owe zakah on what you intended. If the construction is completed and you resolve to sell them, you owe zakah if the lunar year has passed after the intention to sell. As for before that, during the construction and building, no.
But when the sale is completed after the construction is finished, you give zakah on it—you give zakah on its value—if a year has passed after the completion of the construction and you have resolved to sell.
The debt that is on you, its zakah is on its owner, not on you.
This is another question. The questioner says: It is customary to give zakah in Ramadan. Shortly before the beginning of this year, 1418 AH, I bought three plots of land on credit for a period of three years for a sum of two million, or upon sale. I had a sum of money with which I started construction; some of it is now at the finishing stage, and some is in its initial stage. I hope to sell by the end of this year or before it, if Allah wills. I also took tools on credit from some plumbing, electrical, and tile shops, to be paid upon sale. And I have a person to whom I owe five hundred thousand riyals, which I have not given him yet, but I have put it into the construction until the time of sale comes. Is there zakah on these two things or not?
Answer:
You owe zakah on what you intended. If the construction is completed and you resolve to sell them, you owe zakah if the lunar year has passed after the intention to sell. As for before that, during the construction and building, no.
But when the sale is completed after the construction is finished, you give zakah on it—you give zakah on its value—if a year has passed after the completion of the construction and you have resolved to sell.
The debt that is on you, its zakah is on its owner, not on you.
Source
binbaz.org.sa
The Arabic text is copied verbatim from the original source, without any edits.