Asalamualaikum kindly advise on zakaah principles with regards to commercial property.
My father is a 25 % partner in a property company which is managed by himself.
He was previously told that no zakaah is payable on the property acquired only on the net rentals,however
the way he runs the company is that they constantly re-invest rentals into the company to purchase
Only commercial property is purchased. As funds available are constantly re-invested there is no real cash amount at year end .
My concern is the market value of the assets at each year end, should zakaah be paid on this ?