Monday, January 21, 2013

Dought & clear - , They inherited wealth from their father and invested it in some business; how should they pay zakaah?.

daughters and a mother.We inherited 14,500 Jordanian dinars from our
father and we invested this money in some business; every month we get
215 Jordanian dinars. Is any zakaah due on this amount, because this
money belongs to everyone?.
Praise be to Allaah.
Firstly:
The mother's share of the estate is one-eighth. The rest is to be
divided among the sons and daughters, with each male getting the share
of two females. If we realise that the nisaab (minimum threshold)
forzakaah is the value of 595 grams of silver, then the share of each
member of the family reaches the nisaab by itself, so each one
shouldpay zakaah – one quarter of one tenth – himself, after one full
(hijri) year has passed; he should pay it himself if he does not have
any other wealth or he should add it to whatever of that wealth he
owns.
The same should be done every year; the share of each individual
should be examined. Anyindividual whose share reaches the nisaab, of
gold or silver, must pay zakaah on it. Anyone whose wealth falls short
of the nisaab is not obliged to pay zakaah on it.
Secondly:
Each individual may pay zakaah on his share, but if you have made the
wealth as if it is the wealth of one individual, then zakaah should be
paid on the entire amount.
See the answer to question no. 156008
Thirdly:
Wealth that results from the capital is profits that should be divided
among you according to the share of inheritance that each person had;
whatever has been spent is not subject to any (zakaah); whatever has
been saved should be added to one's wealth and zakaah paid on it when
one full (hijri) year has passed.
The obligation to give zakaah, and the rate, vary according to the
nature of the business inwhich the money has been invested. If the
business has to do with trade goods and dealingin electrical or
electronicgoods and equipment that are sold to people, zakaah must be
paid on the business at a rate of one quarter of one tenth. That
should be based on the market value at the end of the year; zakaah
must be paid based on that value. If the business is acommercial
venture in which no goods are sold,such as if it involves vehicles for
hire, apartments or other realestate for rent, or production tools,
then no zakaah is due on it in the first place; rather zakaah must be
paid on income generated, if it reaches the zakaah, when one full
(hijri) yearhas passed.
See the answers to question no. 74987 and 69912
Fifthly:
We would like to draw your attention to something that may have been a
mistake in your getting involved in this business, because you said in
your question that the income is fixed – 215 dinars. This may mean one
of two things:
(i) It is halaal, which is if the business is an
apartment that is rented out, for example, and has a rent that is
fixed at this amount. Thesame applies if the business is a car that is
hired out to someone for this amount.
(ii) It is haraam, which is if there is a mudaarabah
transactionwith someone who doesbusiness with the moneyand gives you a
fixed amount that is not a ratio of the profits. The reason why this
is prohibited is that a transaction of this nature is a "loan that
brings benefits." Any mudaarabah transactionin which the capital is
preserved or brings an income of fixed value is a prohibited
transaction.

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