What is the ruling on zakat for: bank deposits, sums deposited in court for a pre-emption case, sums invested in a stalled real estate project, plots of land, buildings, and residential apartments, and sums invested in a project for selling plant seeds; and is zakat due on the total amount or only on the profits?
Zakat is obligatory on bank deposits when they reach the nisab (minimum threshold) and a hawl (one lunar year) has passed over them. It is also obligatory on the amount deposited in court if it has not left the ownership of its owner. Zakat is paid on it for one year only when it is received, even if it remained for years. As for the amount invested in real estate, if it is for the purpose of renting, there is no Zakat on its value, but rather on its income if it reaches the nisab and a hawl has passed over it. If it is for the purpose of trade, it is considered trade goods, valued and Zakat of 2.5% is paid on it whenever a hawl passes over the invested capital. The suspension of the project does not completely waive the Zakat. There is no Zakat on land and apartments as long as the intention has not been purely for trade, whereas Zakat is obligatory on the amount invested in selling plant seeds, on both the capital and the profit together.
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