Question:
Salam.
We just sold our flat end of February (3 months ago) and got a consequent amount of money, alhamdulillah. That money is intended to pay our under construction house. The objective is to avoid a loan at interest. Do we have to pay Zakat on this money ?
Answer:
As-Salamu ‘Alaikum,
The answer is: NO
If you possess the money from selling the flat for one lunar year only then you become obligated to pay zakat on it.
Dr. Senad Agic, Imam
SABAH – Chicago
9920 Grand Ave
Franklin Park, IL 60131
