´It was narrated that :` Aishah said: “I heard the Messenger of Allah(ﷺ) say: 'There is not Zakat on wealth until Hawl (one year) has passed.' ”
Explanation & Benefits
Maulana Ataullah Sajid
Benefits and Issues:
➊
Zakat becomes obligatory after one year has passed while owning the nisab (minimum amount) of gold, silver, etc.
➋
For agricultural produce, zakat becomes obligatory as soon as the crop is harvested from the orchard or field; the passing of a year is not a condition for this. Allah the Exalted has said:
“And pay its due on the day of its harvest.”
➌
If someone already possesses some wealth but it is less than the nisab, and then acquires additional wealth which completes the nisab, the beginning of the year will be counted from the time the nisab is completed. If, after one year from that point, he still possesses the nisab, he will pay zakat.
Source: Commentary on Sunan Ibn Mājah by Mawlānā ‘Atā’ullāh Sājid, Page: 1792