I have purchased a piece of land through "Qarz-e-Hasna". That piece of land is rented out for commercial use. I am getting yearly rent of that land and am yet paying back "Qarz-e-Hasna". Shall I be liable to pay the Zakat on the yearly rent that I receive?
Secondly, as a salary person, though I get a handsome salary, but at the end of each month it is consumed and untimately at the end of every year I dont find any amout lying in my account. In this case, (as I am a good salaried person) shall I again pay some amount on account of zakat?
We believe that the income that we get which can be termed production is zakatable. Thus we believe that salary and rent both are zakatable. Since in salary we only put labour and service we need to pay 10 per cent of the total income at the time of receipt. Some portion of the income is exempted from zakat. Thus you need to calculate your yearly salary and deduct the amount that is exempted and pay the zakah on the rest. The exempted amoung is 5 wasaqs / 653 kilograms of dates. You need to assess the amoung of this much dates and convert that into your currency and consider this amount exempted. The religious law says you need to pay the zakah on the produce (salary and rent) at the time you receive it. But if that is difficult you can pay the zakah yearly or in other forms of istallments if you like.
This response has been written according to the view of Mr Ghamidi. Other schools of thought do not consider salary and rent zakatable. They think only yearly zakat is applicable on the amount that is left with you if it is over and above the nisab (exempted amount).