Question 46: I have a wealthy brother, who invests his money in buildings, shops, and lands, and he rents them out. I advised him to pay the Zakaah (obligatory charity) on all his assets and his profits, but he told me that Zakaah was only due on the rents, not the assets nor the capital, and that was only if they remain in his possession for a full lunar year before he spent them on buying another building. Many people do the same as my brother; is it permissible to do this in Islaam without being a sinner? What is the type of real estate on whose rent and value Zakaah is not due until a lunar year has passed? Is there a limit to this or does it apply to any amount?
Answer: There are many different types of wealth that people can own, one of them is money… read more here.