Islamic Economics Centre (DaruliftaAhlesunnat)
(Dawateislami -Darulifta Ahle Sunnat)
Question
What do the honorable scholars say regarding this issue: Zaid purchased a plot near a private society for approximately 10 million rupees with the intention of selling it. He still holds the same intention, but by the end of the year, the value of the plot has decreased to around 5 million rupees. In this situation, at what value Zakat should be calculated for this plot.
بِسْمِ اللہِ الرَّحْمٰنِ الرَّحِيْمِ
اَلْجَوَابُ بِعَوْنِ الْمَلِکِ الْوَھَّابِ اَللّٰھُمَّ ھِدَایَۃَ الْحَقِّ وَالصَّوَابِ
An item purchased with the intention of selling is called Maal-e-Tijarat (goods for trade) and the Islamic ruling is that Zakat is to be paid based on the market value of the goods for trade at the end of the year. In the given scenario, if the market value of the said plot has really decreased from 10 million to 5 million rupees by the year's end, then Zakat will be obligatory based on this current valuation only.
It has been stated in Fatawa Hindiyya:
”تعتبر القیمۃ عند حولان الحول“
Translation: The value (of something) at the completion of the year will be considered.(Fatawa Hindiyya, Vol. 1, Page 179, Published in Quetta)
Ala Hazrat, Imam-e-Ahle-Sunnat, Imam Ahmad Raza Khan رحمة الله عليه states:
”تجارت کی نہ لاگت پر زکوٰۃ ہے نہ صرف منافع پر، بلکہ سال تمام کے وقت جو زر منافع ہے اور باقی مالِ تجارت کی جو قیمت اس وقت بازار کے بھاؤسے ہے، اُس پر زکوٰۃ ہے۔“
Translation: Zakat is neither on the cost price of goods for trade nor on profit alone, instead Zakat is on the profit available at the end of the year and on the market value at the end of the year of the remaining goods for trade.(Fatawa Razaviyyah, Vol. 10, Page 158, Published by Raza Foundation, Lahore)
The Khalifa of Ala Hazrat, Mufti Muhammad Amjad Ali A'zami رحمة الله عليه writes:
” مالِ تجارت میں سال گزرنے پر جوقیمت ہوگی اس کا اعتبار ہے۔“
Translation: The value of goods for trade at the completion of the year is considered (for Zakat).(Bahar-e-Shariat, Vol. 1, Page 907, Maktaba-tul-Madina, Karachi)
Answered By: Abu Muhammad Mufti Ali Asghar Attari Madani
Ref No: IEC-0167
Date: 18 Shaban-ul-Muazzam 1445 / 29 February 2024
Translated by Maulana Abdul wajid madani
وَاللہُ اَعْلَمُ عَزَّوَجَلَّ وَرَسُوْلُہ اَعْلَم صَلَّی اللّٰہُ تَعَالٰی عَلَیْہِ وَاٰلِہٖ وَسَلَّم