- 29 Mar 2022, 16:00
#21290
Salams
I had a question on khums based on the below scenario
My date for Khums is March 15th. As at this date I have incurred an expense, however the amount I am supposed to pay the supplier is not confirmed yet. In my mind I had estimated the cost to be 1,000,000 TZS.
If we come to today, I now believe that the cost will come to only 800,000 now that I have some more, and better information. I am yet to pay my khums for the year.
Which amount should I take in my calculation as my payables?
Secondly, I have done business and I am expecting to receive 200,000 from a customer. The business is concluded however the customer has not yet paid me. Should I consider this 200,000 receivable as an asset and pay khums on it?
I had a question on khums based on the below scenario
My date for Khums is March 15th. As at this date I have incurred an expense, however the amount I am supposed to pay the supplier is not confirmed yet. In my mind I had estimated the cost to be 1,000,000 TZS.
If we come to today, I now believe that the cost will come to only 800,000 now that I have some more, and better information. I am yet to pay my khums for the year.
Which amount should I take in my calculation as my payables?
Secondly, I have done business and I am expecting to receive 200,000 from a customer. The business is concluded however the customer has not yet paid me. Should I consider this 200,000 receivable as an asset and pay khums on it?