For the past year, I have the Nisaab amount and I know I have to pay Zakaat on this. I pay Zakaat every year on the 25th Ramadaan. A few days ago, my dad gave me R10 000. do I have pay zakat on this as well? Keep in mind that I don’t possess this amount for a full year
What is meant by Zakaat becoming compulsory when you possess wealth for one year is that you possess the Nisaab amount (currently R4 203) for one year. Once you possess the Nisaab amount for one year, Zakaat becomes compulsory on you. Thereafter, any other wealth earned during the year will be added to your possessions on which Zakaat is due and you will have to pay Zakaat on it as well. So even though you just received this R10 000 a few days ago, you still have to pay Zakaat on it if you have it in your possession on your Zakaat due date.
And Allah Knows Best
Mufti Suhail Tarmahomed
Jamiatul Ulama (KZN)
Council of Muslim Theologians