Question Summary: Do I have to pay Zakaat on the market value or investment value of shares? Question Detail:
Assalam Alaikum Mufti Saheb, I had invested INR 3 lakhs in shares of some textile, steel, software and petroleum companies in India about 3 years ago. Now the value of those shares have depreciated more than 50%. Do I have to pay zakat on the investment value (ie.3 lakhs Indian rupees) or their current value? Jazakallah.
Answer :
In the Name of Allah, the Most Gracious, the Most Merciful. As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh. Muhtaram, JazakAllah. For your question. One is obligated to pay Zakaat on the current value of the shares that one owns in a company and the dividends that accrued thereof. And Allah Ta’āla Knows Best Moulana Ismail Desai, Student Darul Iftaa Durban, South Africa Checked and Approved by, Mufti Ebrahim Desai.
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