A query regarding Zakat

[mdfathaulla]

Assalamu 'Alaykum wa Rahmatullahi wa Barakatuhu ,

I want to ask the Imam that is zakat wajib on me , i have taken a loan of 5 laks from Bank which iam paying back to Bank in instalments and with this amount i have leased my house...So in this instance do i have to offer Zakat ? Please let meknow the mas ala in my case..

Thanks and Regards

[Imam]

Bismillahir Rahmanir Raheem

Wa'alaykum 'Assalam wa Rahmatullahi wa Barakatuhu



All Praise be to Allah who is the Lord of the Worlds, and may Endless Blessings be showered upon His Most Beloved, and Final Messenger of Islam, Hadrat Muhammad Mustafa Salla Allahu ta'ala 'alayhi wa 'aalihi wa Sallam



Jazak'allah for your question. Zakat is fard upon a person who carries the minimum which is liable for zakat, over a period of one year.


If you have a loan, and you are paying off the loan, bit by bit, and you do not have any savings in your account, which have been steady in your account for a period of one year, then there is no zakat fard on you.


May Allah the Almighty guide us all on the straight path. (Amin)


Wallahu A'lamu Biththawaab



M. Waseem Ashrafi