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Shiavault - a Vault of Shia Islamic Books Your Questions Answered (volume 7) Q. 80: Khums On a Purchased Godown A man has bought a godown for US$ 200,000/- which he is turning into a Show Room. Does he have to pay Khums on the purchase price? A: If the Khums of the price was not given before, then he will have to pay US$ 50,000/- for Khumus (US$ 250,000/- total minus US$ 50,000/Khums = US$ 200,000/- Net). Q. 81: HOUSE BOUGHT BUT GIVEN ON RENT.

A man is staying in a house, against which there is a demolition order. He therefore bought a house, for his own residence. Having bought the house, he decided to give it to rental for a couple of years, before he moves in. Does he have to pay Khumus on purchase price of the house. A: Yes. Had it been used straight-away for his own residence, and if the price was paid from the same year's saving in which the house was purchased, then there was no Khumus due.

But if the money was from previous year's savings, there will be Khumus payable. Also, if it is not used for own residence, Khumus has to be paid Q. 82: ACCOUNTING OF KHUMUS: I got married in 1970 and I received dahej money of Shs. 2,335/- which I deposited in a savings account with National Bank of commerce. I was working after marriage and used to earn salary of Shs. 400/- per month from my husband's company which was being deposited in the savings account by banker's order.

Upto 1978 I was deposited with shs. 22,800/- as my salary which I never touched. All this attracted interest. Upto now my balance in my Savings Account is Shs. 627,034.65. So I have earned interest of Shs.601,899.65!! But I have never paid Khums on it. I have now realised my mistake. Can you please guide me as to what am I supposed to do now. A: I advise you to begin your financial year from the date of your marriage. Let us say, it was 1st August, 1970.

Now every year on 31st July your financial year will close. Whatever you had got in your account upto 31st July 1996, is your saving, on which you have to pay Khumus. As for the money that has entered into your account between 1st August, 1996, and 31st July, 1997, if you have spent something from it on household expenses, that will be exempted from Khumus, but you will pay Khumus on the balance. If you have not spent anything from that amount, then Khumus will be paid from the whole amount. Q.