Is Zakat due on gold jewelry if it is sold after several years?
The preponderant opinion is that there is no obligation of on jewelry acquired for adornment and personal use, unless it is intended for trade or savings. If it is intended for trade or savings, then Zakat becomes obligatory on it. Its (minimum threshold) is explained in no. 32843, and the percentage to be paid is 2.5% (a quarter of a tenth). If jewelry acquired for adornment is sold, Zakat becomes due on its price if a hawl (lunar year) passes while it reaches the nisab either by itself or when combined with other money or trade goods. However, if the price is spent before the completion of the hawl or if it falls below the nisab, then there is no Zakat on it. The hawl for its price is calculated from the day of the sale.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
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- Summary from Ftawy's records, reviewed by El Fatwa's sharia committee.
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