His statement, “except for the offspring of grazing livestock”: this is an exception to his statement, “the passing of a year.” That is, except for what grazing livestock produce—their young. This is the second exception, and the completion of a full year is not required for it. The evidence for this is that the Prophet ﷺ would send zakah collectors to the owners of livestock, and they would collect zakah from whatever they found, even though the livestock included both young and old. They would not inquire as to when the animals had given birth; rather, they would count them and assess the due zakah according to their number. For example, a man has forty sheep, upon which zakah is due. Each of them gives birth to three lambs, except one which gives birth to four, so that they become one hundred and twenty-one. Two sheep are then due as zakah, even though a full year has not passed over the increase; it follows the original property.

His statement, “and the profit from trade”: this is the third exception. The completion of a full year is not required for it, because Muslims pay zakah on their trade goods without excluding the profit from trade. Moreover, profit is derivative, and what is derivative follows the original. For example, suppose a person purchases land for one hundred thousand, and before the year is complete it becomes worth two hundred thousand. He must pay zakah on two hundred thousand, even though a full year has not passed over the profit; it follows the original property.

This is what the author mentioned. In addition, the following may be added:

The fourth is buried treasure: that which is found from the buried wealth of the pre-Islamic period. One-fifth is due on it as soon as it is found, based on the Prophet’s ﷺ saying: “One-fifth is due on buried treasure.” (1) He did not say, “after a year has passed,” because finding it resembles obtaining fruit.