Skip to content
IlmHub Questions & Answers

Questions & Answers under the supervision of Mufti Faisal al-Mahmudi

Close Menu

Zakat calculation:Will the amount left of monthly installments be considered as loan?

551 viewsZakatloan zakaat zakat

If we purchased something on monthly installments, would the remaining amount left (to be completely paid off within the next few months), be considered as loan and subtracted from zakat calculation?

Bismillahi Ta’ala

Walaikum Assalam Warahmatullah

When something is purchased on credit installment, the installments become a debt upon you. This will either be a long-term payable (i.e. more than 12 months), or it would short-term liability payable in less than a years time.

In long-term liabilities contemporary fuqaha’ hold the stance to deduct a maximum of 12 installments from the zakatable assets. However, for short-term loan as the one mentioned in your question, the entire amount may be deducted from the zakatable assets.

Wallahu A’lam

And Allah Ta’āla Knows Best
Mufti Faisal al-Mahmudi

Categories

  • General (Misc)
    265 Questions
  • Salah
    56 Questions
  • Ramadan
    54 Questions
  • Zakat
    45 Questions
  • Hajj and Umrah
    12 Questions
  • Tahara (Wudhu and Salah)
    10 Questions
  • Shawwal
    5 Questions
  • I'tikaaf
    3 Questions

Questions

Child tastes nose mucus – will it invalidate fast?

Tasted gravy from suhoor on lips while fasting

Local charity organization to decide whom to give zakat

Dental procedures – do they nullify fasts?

Calculating the value of gold

© Copyright 2023. Designed and Developed by IlmHub