Aassalamu Alaikum Ya Sayiddi Maulana Sheikh Nazim Adil Haqqani (QS), Maulana Sheikh Hisham Kabbani (QS) and eshaykh Team.
I have two rental property and I dont make money end of the year as I have expenses against them. However, I have equities on both of them as the mortgage money is decreasing towards principal. Please provide suggestions If I due Zakat on the equities based on current value of the property.
Please keep us in your prayer, Forgive me for any bad adab. Zakak’Allah Khair.
Wa `Alaykum Salam,
Since you own homes for rental purposes, Zakat is payable upon the rental income only with the deduction of any outgoings in connection with the property.