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| Paying Zakat on Funds on Hand That Will be Dispersed |
Question:
I usually give my Zakat at the beginning of month of Ramadan. I send the amount to back home and my father distributes it accordingly. I am buying a apartment for myself but the handover and the payment is in September If I calculate my Zakat now I will have a large amount based on my current asset but all I have will be gone when I have to pay for my apartment. So how shell I calculate my Zakat?
Answer:
Praise be to Allah.
If you have already made a contract and there is debt on you (for the apartment that you bought), on the day of calculating zakah you may deduct the amount of the debt. Otherwise, expectations do not provide for a deduction.
Allah Almighty knows best.
Dr. Monzer Kahf
Question Date: 2012-05-26
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