Do i calculate my Zakaat from the time i purchased my house or after?

In the name of Allah, Most Gracious, Most Merciful

Assalaamu `alaykum waRahmatullahi Wabarakatoh

Zakat is due upon wealth that remains after the passing of a complete Islamic year. A few basic conditions are of zakat:

He possesses the amount of Nisaab that is free from debts at the beginning and end of the year, irrespective if the amount of wealth decreased during the year.

The entire wealth was not lost during the year. If it was, then the new annual year will begin from the time he possesses nisaab again.

If after the passing of a year after deducting debts, a person has wealth equal to the amount of Nisaab, then zakat will be wajib upon him from that wealth.

In the case mentioned, if you purchased the house before Ramadan, then zakat will be calculated from the remaining wealth after the purchase. However, if it is bought after Ramadan then it will be calculated from the amount before purchase. In other words, you will calculate from what is in your possession at the time when the annual zakat is due.

And Allah knows best

Wassalam

Ml. Ehzaz Ajmeri,
Student Darul Iftaa

Checked and Approved by:

Mufti Ebrahim Desai
Darul Iftaa