Pillars of Islam - zakat on property investment

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zakat on property investment

Printed From: IslamiCity.org
Category: Religion - Islam
Forum Name: Pillars of Islam
Forum Description: Pillars of Islam - Prayers, Fasting, Zakat, Hajj
URL: https://www.islamicity.org/forum/forum_posts.asp?TID=42781
Printed Date: 30 April 2024 at 4:29am
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Topic: zakat on property investment

Posted By: johnt89
Subject: zakat on property investment
Date Posted: 06 June 2018 at 8:10am

Assalam o Alaikum

Here is the situation

I sold my primary residence and purchased another primary residence.

Instead of putting all the money I made from the sale into my 2nd prim. res. I kept $100k.

I invested this $100k sometimes in mutual fund and sometimes in lending for business loan.

Do I owe zakat on the $100k or the money I made from the $100k?

Thanks Jazakallah

Replies:

Posted By: Dr. Aslam
Date Posted: 21 June 2018 at 2:13pm

You will pay zakat on the profit of your investment.

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Best Regards,
Aslam Abdullah