Is zakat due on all funds present at the time the Hawl (lunar year) is completed, or only on what has completed the Hawl? Is it due on fixed assets and equipment? Is zakat to be paid after closing the balance sheet and only on profits? What is the ruling on delaying its payment?

Funds received and expended before the completion of a full year are not subject to Zakat. Zakat becomes obligatory on funds that have completed a full year and meet the minimum threshold (nisab). There is no Zakat on assets, equipment, machinery, and vehicles designated for use and not for sale. The criterion for the obligation of Zakat on money is the completion of a full year while it meets the nisab. Zakat becomes obligatory on earnings from services if a full year has passed over them and they meet the nisab.