Prayers & Duties >> Zakat & Charity
Question ID: 22840Country: India
Answer ID: 22840
Bismillah hir-Rahman nir-Rahim !
(Fatwa: 879/745/D=1431)
When you have gold of four lakh rupees, you will have to pay zakah after passing one year. You will deduct the amount of one year instalment of the total loan from the 4 lakhs and pay the zakah of remaining amount. For example you have to pay the instalment of 75000 in a year from loan, then by deducting 75000 from four lakh you will have to pay zakah of the remaining 375000.
Allah (Subhana Wa Ta'ala) knows Best
Darul Ifta,
Darul Uloom Deoband, India