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Thread: Zakat on Loan

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    Default Zakat on Loan



    Do you have to give zakat on the money you have given out as a loan to someone?
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    Default

    Zakat is payable by you on loans you have given to your friends and relatives. It should be treated as cash in hand. You may deduct loans payable by you to arrive at the net present value of your wealth.


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    Quote Originally Posted by student786 View Post
    Zakat is payable by you on loans you have given to your friends and relatives. It should be treated as cash in hand. You may deduct loans payable by you to arrive at the net present value of your wealth.


    Can you explain the bold part in little more detail.
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    Haq Char Yaar

    Barelwiyyat

    Ahlel Bayt

    Free Books



    Chand say Tashbih daina, yeh bhi koi Insaf hai
    Us kay Munh pay Chayan, Madani ka Chahra Saf hai


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