Zakat on Land.
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Question:
I have a piece of land that I bought several years ago, and I bought it to benefit from its value in the future. Is there zakat on it? And if there is zakat on it, how do I pay the zakat for the past years, given that its price has changed significantly and I do not know its price for each year?
Answer:
Answer: If you intended to sell it, there is zakat on it from the beginning of the intention, provided a lunar year has passed from the beginning of the intention, in which case you pay its zakat. As for if you kept it for need, and you do not know whether you will sell it, develop it, or keep it for need, then there is no zakat on it.
I have a piece of land that I bought several years ago, and I bought it to benefit from its value in the future. Is there zakat on it? And if there is zakat on it, how do I pay the zakat for the past years, given that its price has changed significantly and I do not know its price for each year?
Answer:
Answer: If you intended to sell it, there is zakat on it from the beginning of the intention, provided a lunar year has passed from the beginning of the intention, in which case you pay its zakat. As for if you kept it for need, and you do not know whether you will sell it, develop it, or keep it for need, then there is no zakat on it.
Source
www.alfawzan.af.org.sa
The Arabic text is copied verbatim from the original source, without any edits.