Massallah pertanong to Zakaah

Question ID: 23725

Hazrat Mufti Saheb
Bismi Ta’ala

I am a shareholder of a firm of professionals rendering sevices with a 5% holding. For zakaah purposes:
1) do i include my 5% of the assets less liabilities even though
(a) i have no access to this money. If and when i do, it will be by way of a dividend paid to me based on what amount is decided at that time.
(b) there is no certainty until it actually happens. and may not be equal to the total net equity (assets – liabilities)?
2) if yes to 1, our balance sheet shows time spent by our staff as an asset that is then charged to our clients – is this considered as stock in trade (thus zakaatable) or must it be excluded for zakaat?
3) should the fund value of a retirement annuity fund be included as an asset for zakaat?
4) can zakaat be given to ones brother if he is considered to have no nisaab an in need?
5) is it correct to deduct as a liability ones home bond as follows: instalment x 12 or just that months instalment?

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Asked on September 8, 2010 12:00 am
Private answer

1) No
2) N/A
3) No
4) Yes
5) No deduction.

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Answered on September 8, 2010 12:00 am