Assalam o Alaikum, I constructed a house in partnership of two friends. It took about three years from purchase of land to completion. I faced a lot of financial hardship during this period and also borrowed money from people. Everything is settled now and we have distributed the profit etc. Is zakat payable on profit only or the capital also? It is only recently that the house is sold.
Assalam o Alaikum, I constructed a house in partnership of two friends. It took about three years from purchase of land to completion. I faced a lot of financial hardship during this period and also borrowed money from people. Everything is settled now and we have distributed the profit etc. Is zakat payable on profit only or the capital also? It is only recently that the house is sold.
02Jun
Wa alaikum assalaam
The zakat is due on the capital invested and the profit.
Assalam o Alaikum, I constructed a house in partnership of two friends. It took about three years from purchase of land to completion. I faced a lot of financial hardship during this period and also borrowed money from people. Everything is settled now and we have distributed the profit etc. Is zakat payable on profit only or the capital also? It is only recently that the house is sold.