Is there the issue of more than one year, on stock, for zakaat?

DWQA QuestionsCategory: zakaatIs there the issue of more than one year, on stock, for zakaat?
admin Staff asked 8 months ago

I heard that money held for more than 1 year, zakaat is fard if exceeds nisaab. If the money is less than 1 year, is it fard? Regarding stock, i was informed that the value of stock should be based on selling price and not on buying price. Is there the issue of more than one year, on stock, for zakaat?

1 Answers
admin Staff answered 8 months ago

No. Choose a date to take out your Zakaat. Say 1st Ramadhaan. On that date, you will account for your assets and liabilities. Account for the amount of cash in hand, at bank, etc on that date. Even if the money or stock came yesterday. Then fill in the Zakaat Calculator on the web islam-qna.org If any help, you may call on 57921333.