Question Summary:
Zakaat on Investments & Taxes Question Detail:
I have 2 seperate queries pertaining to zakaat and I would appreciate it if you could assist me with them.
1) My wife has a few investments to her name that were opened a few years back. However at the time she was unaware that she had to pay zakaat on her investment total each zakaat year. Now that it has come to her attention that she must pay zakaat on the full amount, how would she calculate her outstanding zakaat for all the previous years. She has different investments that were opened in different years. She has a full history of market values of all her investments since they were opened. Must she retrospectively calculate using previous records for each year or must she use the current market value.
2) My wife is not a tax payer - I would like to know if she can make the section 18A tax certificate on my name though her intention is that she is fulfilling her own zakaat. The making of the certificate on my name is purely so that I can obtain a further tax rebate and would it be permissable for me to claim this rebate.
Answer :
In the Name of Allah, the Most Gracious, the Most Merciful.
As-salamu ‘alaykum wa-rahmatullahi wa-barakatuh.
Any outstanding Zakaat should be calculated and distributed using the value on the day the discharging of Zakaat became compulsory.[1]
In future, avoid late payments of Zakaat.
It is permissible for your wife to obtain an 18A certificate on your name when discharging her Zakaat in order for you to gain a further tax rebate.[2]
And Allah Ta’ala Knows Best
Ismaeel Bassa
Student Darul Iftaa
Durban South Africa
Checked and Approved by,
Mufti Ebrahim Desai.
www.daruliftaa.net
[1]. وَتُعْتَبَرُ الْقِيمَةُ يَوْمَ الْوُجُوبِ، وَقَالَا يَوْمَ الْأَدَاءِ. وَفِي السَّوَائِمِ يَوْمَ الْأَدَاءِ إجْمَاعًا، وَهُوَ الْأَصَحُّ، وَيُقَوَّمُ فِي الْبَلَدِ الَّذِي الْمَالُ فِيهِ . قَوْلُهُ وَهُوَ الْأَصَحُّ أَيْ كَوْنُ الْمُعْتَبَرِ فِي السَّوَائِمِ يَوْمَ الْأَدَاءِ إجْمَاعًا هُوَ الْأَصَحُّ فَإِنَّهُ ذَكَرَ فِي الْبَدَائِعِ أَنَّهُ قِيلَ إنَّ الْمُعْتَبَرَ عِنْدَهُ فِيهَا يَوْمُ الْوُجُوبِ، وَقِيلَ يَوْمُ لْأَدَاءِ. اه وَفِي الْمُحِيطِ: يُعْتَبَرُ يَوْمُ الْأَدَاءِ بِالْإِجْمَاعِ وَهُوَ الْأَصَحُّ اه { د المحتار على الدر المختار، ج 2، ص 286، دار الفكر-بيروت }
وَإِنْ أَدَّى الْقِيمَةَ تُعْتَبَرُ قِيمَتُهَا يوم الْوُجُوبِ لِأَنَّ الْوَاجِبَ أَحَدُهُمَا وَلِهَذَا يُجْبَرُ الْمُصَدِّقُ على قَبُولِهِ { الفتاوي الهندية، ج 1، ص 180، دار الفكر}
احسن الفتاوي، ج 4، ص 268
فتاوي فريديه، ج 3، ص 413
[2]
أما في زماننا فأكثر النوائب تؤخذ ظلما ومن تمكن من دفع الظلم عن نفسه فهو خير له وإن أراد الإعطاء فليعط من هو عاجز عن دفع الظلم عن نفسه { شرح فتح القدير، ج 7، 223، دار الفكر }
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