Zakat, the fourth pillar of Islam, is obligatory upon every able Muslim to pay each year as Sadaqa of his wealth. The wealth which he is blessed with possesses a fixed amount in Islam for those who are mustahib (the needy). The calculation of Zakat is applicable over an amount of 2.5% of the total wealth but the condition for the payable assets must exceed a year in the custody of the owner.
People Who Has To Give Zakat
- Must be Muslim, Adult, Sane
- have a certain minimum value of extra wealth that must be fully owned by them
- the minimum amount must exceed in his possession for a lunar year
- The wealth should be profit driven (productive)
- The value should be debt free
Determination of the threshold (Nisab) can be identified as
Gold: the cash equivalent of 3 ounces or 87.48 grams
Silver: the cash equivalent of 21 ounces or 612.36 grams
To know your calculation of Zakat this year, you can concern the Zakat calculator given ahead.
To know your calculation of Zakat this year, you can concern the chart below.