My parents gave me a sum of money that i should use to pay for my study fees and to buy a plot of land for me one day for personal use. Is zakaat compulsory on this sum of money for the time that the money remains in my possession?
If you started your studies and will finish your studies, then the sum to be paid to the university is a debt and not Zakaatable. But if you intend to buy a plot of land, but did not make any dealing yet, then the money is Zakaatable.