I sold a piece of land and received its price. Is Zakah (obligatory charity) due on the land paid according to its present value?
Please give us the ruling on this question. May Allah reward you with the best and benefit Islam and Muslims with your knowledge.
The Hawl (one lunar year calculated from the time a property reaches the minimum amount upon which Zakah is due) that makes Zakah due on the land referred to above begins from the time you intended to sell it. If a Hawl that is calculated from the time you intended to sell the land elapses, Zakah is due on the land as long as it is still under your control. You have to estimate the value of the land after the elapse of a Hawl and then pay the Zakah due on it, that is, 2.5% of the estimated price. If the land has been sold, you can give the due Zakah as 2.5% of the price.May Allah grant us success. May peace and blessings be upon our Prophet Muhammad, his family, and Companions.