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Question ID: 28403
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I stay with my parents, and we are currently renting. I bought a flat 6 months ago which is currently being rented out. What do I pay zakaat on if my bond is the same amount as the property value, and the rental received is less than 50% of my monthly bond instalments. The net value of the flat (current value less the bond value) is minimal.

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Asked on September 15, 2008 12:00 am
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Your rent is your asset. If you are a payer of Zakaat add it to your balance sheet. You bond instalment x12 is you liabilities, not what is the amount of the total bond.
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Answered on September 15, 2008 12:00 am
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