Purification and Zakat (for long-term investing) calculations are in USD per share and based on AAOIFI methodology. AAOIFI requires purification every financial period (e.g. quarterly).
If you follow S&P Shariah’s Dividend-only purification, then remove the impure income % from the dividends you receive. No purification required for non-dividend paying stocks, according to S&P Shariah.
For Zakat, if you did not invest in a company from a long term perspective, then consider the shares as trading goods and give 2.5% of the total value if a year has passed on them.
Company Profile
Sumit Woods Limited is an India-based company, which is engaged in the business of real estate/ real estate development and incidental services. On the real estate development front, the Company develops residential, commercial, retail and social infrastructure projects. The Company’s projects include Sumit Lata, Sumit Garden Grove, Sumit Bells, Sumit-Sai Prasad, Sumit Mount, Sumit Greendale NX, Sumit Proxima, Sumit Province II, Sumitone, Sumit Atulyam, BIZ 1 and Sumit Bells-1, among others. The Company’s subsidiaries include Mitasu Developers Private Limited and Homesync Real Estate Advisory Private Limited.
SUMW - Sumit Woods Ltd
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