Ruling on goods that have been owned for a year

Hazrat Abu Amr bin Hamaas narrates that my father, Hazrat Hamaas, used to sell oil and quivers of arrows. On one occasion, Hazrat Umar said to him: O Hamaas, pay the zakat on your wealth. He replied, By Allah, I have no wealth. I only sell oil and quivers of arrows. He said, Assess their value and pay zakat on that.

It is narrated from Hazrat Amr bin Hamaas that my father, Hazrat Hamaas, used to sell stew and quivers. The rest of the hadith is transmitted in the same manner.

Yunus narrates that Hasan was asked whether a person who has purchased goods is liable to pay zakat on them. He replied that the value should be calculated and zakat should be paid from the day zakat became obligatory on it.

Hazrat Abdullah bin Umar (may Allah be pleased with them) narrates that there is no Zakat on goods until those goods are for trade.

Hazrat Ibn Sirin states that the value of the goods will be assessed, and then zakat will be paid on it.

Hazrat Abdul Malik states that Hazrat Ata was asked: If a person bought some goods and then those goods remained with him for two years, is zakat due on them? He replied: No.

Ibrahim says that every item kept for trade is subject to zakat, whether it is milk or clay. And the same is narrated from Hazrat Hakam.

10758 - He said: And Al-Hakam used to see that.