Fatwa 14

Subject: Jamia Ashrafia
Date: Sun, 24 Mar 2002 00:21:21 + 0500
From: “Aamir Idrees”
To: ummqura@brain.net.pk

Assalaam-o-Alaikum
I have sold my house and distributed the amount according to the shares detailed in Qur'an Majeed. Now I have Rs 700.000/=.Is the Zakat due on this amount immediately or after one year?If the Zakat is due than how much amount should I pay?

Aamir

(14)
Subject: Reply of your query
Date: Sat, 30 Mar 2002 11:37:35 - 0800
From: ummqura@brain.net.pk
To: “Aamir Idrees”

Assalaam-o-Alaikum
If you are already Sahib-e-Nasab (i.e. one who is ordained to pay Zakat), then you add the amount present in cash to the other assets and pay Zakat 2 ½ % on the accumulative amount; if however, you are not already Sahib-e-Nasab, then Zakat 2 ½ % shall be payable after lapse of one year's possession of the amount present in cash.
Allah knows the best.

Darul-Iftah
Jamia Ashrafia, Lahore.