Assalam alaikum,

I am owner of 2 houses, both given for rents. And recently purchased one more house with bank loan. The rents of all the 3 houses plus savings of my salary goes to clear the loan of the new house on monthly basis regularly. I am working abroad, and staying with family. I don't have any bank balance right now.

I am having gold of amount almost equals to the other debts (other than the bank loan of the new house).

1) Do I need to pay zakat?
2) If I need to pay, I must sell 2.5% of existing gold only, as I don't have any bank balance right now.
3) How about my existing debts(other than the bank loan of the new house)

Regards,
Ahmed

1) Do I need to pay zakat?

YES, you have to pay zakat.

Zakat, noun.a portion of a Moslem's yearly income required to be set aside for alms.