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Assalam u alaikum. I have got cash which I intend to use for buying two plots of lands, one for building a house on it and another to sell later on and use that money partly to build the house on the first land and partly for business. The day for my calculation of zakat is 1st ramadhan but I will buy the plots after that date. However on 1st ramadhan, one year would not have passed for that cash to be in my possession but I have other cash and merchandice to make up the nisaab. Do I have to pay zakat on part or whole of this cash intended for buying land as described above?

 

الجواب حامداومصليا
If you had been paying Zakah previously then the money that you have saved up for the purpose of  buying land will be added to the Zakatable assets and you will be required to pay Zakah upon your annual Zakah due date.
If you would have used up the money by your Zakat date then you would not be required to pay Zakah. Otherwise, it is obligatory to pay Zakah on the saved up money as well.
It is not necessary that a whole year is passed over all the income. Whatever, wealth is added during the year will automatically be included in Zakah calculation.
And Allah knows best.
Mufti Ikram ul Haq
Fatwa Center of America