Zakat on share
I have a family member who has not given me a hisab of my share on an investment. I have been following up for roughly 3 months. I know I am owed something but cannot accurately estimate it because I was not managing the investment. Another family member told me that my share could me as minor as $2000 on this investment. However, the real numbers could be different if I get a hisab. At this point, I cannot say with reasonable certainty whether or not I will actually receive my share of the investment. Can I pay Zakat on this estimate from another family member? Or should I not pay Zakat on this investment as there is no guarantee I will get any money back? My gut feel was just to add a 100 or 200 to my zakat balance this year to be safe, but I wanted to seek your opinion.
بِسْمِ اللهِ الرَّحْمنِ الرَّحِيْم
In the name of Allah, the Most Gracious, the Most Merciful
According to what you mentioned, it is not necessary for you to pay Zakat on your share that is in your partner’s possession until he gives you your share. Once you have taken full possession of your share, you must pay Zakat on it for the previous years if the amount individually reached nisab or when it was combined with other zakatable assets.
Nevertheless, if you want to pay Zakat on your share before you receive it, it would be permissible. Those people may choose this option who do not wish to pay a large amount of Zakat all at once when they finally receive the money owed to them after many years.
Raddul Muhtar: v. 3, p. 236 (Maktaba Imdadia); Fatawa Hindiya: v. 1 p. 189 (DKI); Fatawa Darul Uloom Zakariya: v. 3, p. 123 (Zamzam); Fatawa Usmani: v. 2, p. 46 (Maktaba M’aariful Quran Karachi)
Only Allah knows best
Written by Maulana Mohammad Ahsan Osmani
Checked and approved by Mufti Mohammed Tosir Miah
Darul Ifta Birmingham