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Discussion in 'Hanafi Fiqh' started by Aqib alQadri, Jun 28, 2016.
If trading in land is your business, then it applies to all your stock.
Oh Thank you @Aqib alQadri.
So the general ruling is there is no Zakat on any land unless you are actively planning to sell within the zakat calculation year?
NO. the land value is exempt from Zakaat, unless you are actively planning to sell it within the zakat calculation year.
Few years ago I had lent some money to my relative. They cant repay the amount in cash so they have given me a piece of their land. I own this land now but not legally because the land is too small to transfer ownership legally. Maybe sometime in future I intend to buy more plot around it so that I reach the minimum requirement of transferring the ownership on my name.
My intention regarding what I want to do with this piece of land is not certain, that is whether I want to sell it later when rates are high (Investment purpose) or make a house for myself on it.
I might do either of the two things.
Do I have to pay zakat on this land in this case?
A clear fatwa on this will be much appreciated.