Tax & Zakat
Residential Property Zakat
Short Definition
Properties for personal residence exempt from zakat, zakat imposed only on properties intended for trade or sale.
In Other Languages
Arabic
زكاة الأملاك المعدة للسكن
العقارات المعدّة للسكن الشخصي معفاة من الزكاة، الزكاة تُفرض فقط على العقارات المعدّة للتجارة أو البيع.
English
Residential Property Zakat
Properties for personal residence exempt from zakat, zakat imposed only on properties intended for trade or sale.
Turkish
Konut Zekatı
Kişisel konut için mülkler zekattan muaftır; zekat sadece ticaret veya satış için tahsis edilen mülklere uygulanır.
Related Terms
Zakat
Islamic obligation imposed on wealth at 2.5% annually, includes properties for trade and sale but excludes those for residence or long-term investment.
Zakat Base
Total funds subject to zakat after deducting obligations, includes commercial real estate and properties for sale, excludes fixed assets.