Zakat on gifted house

Question

I received a house as a gift from my parents. After a couple of years I decided to sell the house and use it for buying and selling properties.

Would the zakat be payable on one year from the date I start intending to use the house as a source of investment or would it be on the zakat day i have chosen once I actually receive the funds?

If you're intending to use anything as a source of income then zakat is necessary to give. Please confirm from Ulemas. — Mohammad Tauqir, Sep 13 '15 at 03:54

score 1 · Answer 1 · answered Dec 04 '15 at 10:35

Well if i understood this Fatwa (Arabic) well. Then you should add the funds from your investment to your yearly zakat. This means after selling the house or once you have any earnings in your investment the time and earnings count for zakat!

And Allah knows best!

Zakat on gifted house

1 Answers1