Zakah on Assets While Having a Loan
My question is on the applicability of zakat when one has a loan. I have assets in the form of residential plots (land), some cash, stocks and my wife's jewellry. In addition I have a house in which I live and have taken a loan to pay for the house.the value of the loan far exceeds by the value of all my assets other than my residential property. Should I be paying zakat and on which assets? I have gotten my conflicting views and am confused.
