Zakat on a car purchase agreement

QUESTION:

I paid a deposit to reserve a car which is in the process of being built and delivered. I have a purchase agreement for it with the total price of the car. This transaction is entirely cancellable and refundable with no penalty at this time. The full balance will be paid on date of delivery. Do I pay zakat on the money set aside for the purchase until it is completed, or is that money considered as not mine at this point and I dont pay zakat on it.

 

ANSWER:

Until you are not liable to pay that amount, zakāt will be due on it provided that other conditions that make zakāt compulsory are fulfilled.

 

Once you are liable to pay it, it will be considered as a shar’ī debt of which the amount owed in the forthcoming lunar year may be deducted for zakāt purposes.

 

And Allah, the Almighty, knows best

 

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Tayyib HMC FInder

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