Q: Is Zakat binding only after the passing of a lunar year?
A: After owning Nisab for the first time, Zakat is obligatory after the passing of one lunar year. Thereafter, Zakat will be due every year on the same date if the qualifying conditions are found. It is not necessary for a year to pass on every single Zakatable asset, rather, the same Zakat anniversary will be used for other Zakatable assets such as gold, silver, cash and business stock acquired during the year
And Allah knows best!
Mufti Faraz Adam
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