Khums: Offsetting Debts Against Cash/Loans and Khums on Residential Land Purchase

Practical Laws of Islam as per the teachings of Imam Khamenei

Khums: Offsetting Debts Against Cash/Loans and Khums on Residential Land Purchase

English:

Question #972:

I have some money, a part of which I have given to others as loans. At the same time, I owe to some people for the land I purchased to build a house on it for which I have a postdated check to be paid in a few months. Am I permitted to subtract the amount I owe for the land from the cash and loan and pay the khums on the balance? Furthermore, is khums applicable to the land which has been purchased for residential purposes?

Answer #972:

If you bought the land during the current khums year and after obtaining the first income, you can deduct the amount equivalent to the debt from the year’s income. If you bought it before the current khums year, it is not subject to khums provided that you pay the debt by five days after the end of khums year; otherwise, it is not deducted from the income.

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