Assalmualikum I have purchased last year an apartment on instalment & I have paid 1/2 of the total price of apartment.Balance amount will be paid to landlord in instalment in coming 2years. This apartment is on rent and I am getting rent income from the property. How to calculate Zakat on this property? Do I have to calculate Zakat on amount paid for th property or pay Zakat on rent income
Jun 8th, 2016
Wa alaikum salam,
The zakat is on the rent if it completes one year in your possession.