Do I Pay Zakat On Wealth I’ve Had Less Than A Lunar Year?

Question:

Assalamu ‘Alaykum.
Alhamdulillah, I have always been over nisab. I received a large amount of money after the start of my lunar zakat year. Do I pay zakat on this amount?

Answer:

Wa ‘alaykum assaalm wa rahmatullah wa barakatuh.

I pray you are well.

In your case, you would have to pay zakat on all the money, gold, and silver in your possession on the zakat date. This includes the money you have had for less than a year. (Maydani, al Lubab)

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May Allah grant you the best of both worlds.
[Shaykh] Abdul-Rahim

Checked and Approved by Shaykh Faraz Rabbani

Shaykh Abdul-Rahim Reasat began his studies in Arabic Grammar and Morphology in 2005. After graduating with a degree in English and History, he moved to Damascus in 2007, where, for 18 months, he studied with many erudite scholars. In late 2008 he moved to Amman, Jordan, where he continued his studies for the next six years in Sacred Law (fiqh), legal theory (Usul al-fiqh), theology, hadith methodology, hadith commentary, and Logic. He was also given licenses of mastery in the science of Quranic recital. He was able to study an extensive curriculum of Quranic sciences, tafsir, Arabic grammar, and Arabic eloquence.