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Fatwa CenterZakat for accumulated money
Question
(for example) I have 100 dollars and i pay a zakat of 2.5 dollars after completing a year.The next year i am able to save 197.5 dollars(100+97.5) along with the money for which zakat is already paid ,now should i pay zakat for 100 dollars or for 197.5 dollars?In hanafi fiqh what does they say?
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.
As regards your question, you are obliged to pay the Zakat for all the money which you possess, which is 197.5. This is the view of the
According to the remaining three Schools of jurisprudence, the saved amount should be considered as a profit that should be counted starting from the day of possessing it until a whole lunar year elapses on it (to be liable for Zakat).
For more benefit, please refer to Fatwa 82016.
Allaah Knows best.
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