Is money given as a deposit counted as zakatable as you are expecting it back?
Meaning if a person was to give £50 as a deposit in a transaction is this counted in your wealth when looking at the nisab / calculating zakaat?
Bismillahi Ta’ala
Walaikum Assalam Warahmatullah
Deposit placed for tenancy is counted as a zakatable asset. Even if that deposit is later deduced for renovation purposes, up and until the expense does not become established (mutahaqqaq), it will be considered as one’s zakatable receivable.
This is different to a Deposit towards purchase of an item, as long as the transaction has been concluded, is not zakatable.
You may use our workshop to review this matter at:
Wallahu A’lam
And Allah Ta’āla Knows Best
Mufti Faisal al-Mahmudi