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    Ahmed5149's Avatar
    Ahmed5149 Posts: 2, Reputation: 1
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    #1

    Aug 12, 2010, 04:18 AM
    A Query on Zakat
    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
    ROLCAM's Avatar
    ROLCAM Posts: 1,420, Reputation: 23
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    #2

    Aug 12, 2010, 05:20 AM

    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.
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