If a Hawl passes on the money with which you buy and sell, you should pay Zakah on it

382

Q 1: I sell cocoa; should I keep the amount of Zakah (obligatory charity) directly after selling the cocoa or should I wait until the following year to obtain cash and then pay Zakah? A: If a Hawl (one lunar year calculated from the time a property reaches the minimum amount upon which Zakah is due) passed on the money with which you buy and sell, you should pay Zakah on it. If you bought, at the completion of the Hawl, commercial commodities with the cash you have, then you should evaluate these commodities after one Hawl passes on the money with which you bought them and then give Zakah, i.e. 2.50% of the estimated value. (Part No. 8; Page No. 74

A: If a Hawl (one lunar year calculated from the time a property reaches the minimum amount upon which Zakah is due) passed on the money with which you buy and sell, you should pay Zakah on it. If you bought, at the completion of the Hawl, commercial commodities with the cash you have, then you should evaluate these commodities after one Hawl passes on the money with which you bought them and then give Zakah, i.e. 2.50% of the estimated value. (Part No. 8; Page No. 74) May Allah grant us success. May peace and blessings be upon our Prophet Muhammad, his family, and Companions.