Khums: Do Savings Reserved for Unclaimed Debt Reduce Khums Liability?

Practical Laws of Islam as per the teachings of Imam Khamenei

Khums: Do Savings Reserved for Unclaimed Debt Reduce Khums Liability?

English:

Question #870:

I owe an amount of money and at the year’s end the lender has not asked for its repayment. At the same time, I have saved an amount from my yearly income enough to pay off my debt. Is this loan excluded from the annual income or not?

Answer #870:

A debt, whether it is due to borrowing money or buying home appliances on credit is subtracted from the income of the current khums year provided that it has incurred this year and after acquiring the first income of this khums year. If it incurred during the previous years, it is not subtracted from the income of the current khums year unless it is settled by the end of the khums year.

-Imam Khamenei, Practical Laws of Islam, Importance and Conditions of Khums