How zakat becomes obligatory for a debtor

Question

Zayd has owned seven thousand rupees for nine months, and he also has a debt of three thousand rupees. Wajib (?) — wishing to obtain the blessing of Ramadan, he wants to pay zakat in this month. How much zakat should he now pay?

Answer

Since he owns seven thousand and owes three thousand, and only nine months have passed so far, it is not yet wajib to pay the zakat now; however, if the zakat is paid now, it will still be discharged. He should pay [zakat] on only four thousand, and the three thousand will be deducted towards the debt; then, when the year is completed, the account should be settled.

Source: Fatawa Mahmudiyya

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