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Fatwa CenterZakat on a stone crushing unit
Question
I have invested some money in setting up a stone crushing unit in India. Though this unit was commissioned 2 months ago, I have not received any income from this investment. Should I pay Zakaah on this investment?
Answer
All perfect praise be to Allaah, The Lord of the Worlds. I testify that there is none worthy of worship except Allaah, and that Muhammad is His slave and Messenger. We ask Allaah to exalt his mention as well as that of his family and all his companions.
You are not obliged to pay Zakat neither on this business nor on its assets. You are only obliged to pay Zakat on its profit if it reaches a minimum amount liable for Zakat by itself, or with other money added to it -either cash money or gold or silver - and only after a whole lunar year elapses on it. For more details please refer to Fatwa 81330. However, if there is an asset in this business which is displayed for sale, then Zakat has to be paid on its value if it reaches a minimum amount liable for Zakat and when a whole lunar year elapses on its value.
The minimum amount liable for Zakat is 85 grams of gold or 595 grams of silver.
Allaah Knows best.
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