I presently have R50 000 cash
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Question: I presently have R50 000 cash. I do not owe anyone. My Zakaat is due on the 29th Ramadhaan. I am expecting an amount of R100 000 on the 25th Ramadhaan. Thus, I will have a total amount of R150 000 on the 29th Ramadhaan. Do I have to pay Zakaat on the R100 000 as well which was only in my possession for four days?
Answer: Yes, you have to pay Zakaat even on the R100 000 which was in your possession for only four days. You will have to pay Zakaat on the total cash amount and value of gold and silver jewellery and stock-in-trade you will have on the 29th of Ramadhaan, regardless of when it came into your possession.
