Want to know the Nisab? So, you think you might have missed Zakat? Find out more. Learn more about working out your Zakat. Distribution, General.
When is my duty to pay Zakat discharged? Can I pay my Zakat monthly? Deductible liabilities. Zakat and Tax — Your Questions Answered. How do I calculate the value of stock in my shop? The value of the stock in your shop is its market value, not the buying price. You can calculate this by estimating how much you would expect to receive if you sold the entire stock at once to a single buyer.
Yes, you would need to pay zakat on it. Although when calculating its value, you would consider the price that you would be able to sell it for. I have taken out large commercial loans to expand my business, how will this affect my zakat calculation?
A loan you have taken out to acquire zakatable assets, such as raw materials, goods and so on, can be deducted from your capital. You pay zakat on what remains. A loan you have taken out to acquire non-zakatable assets, such as furniture, machinery and buildings is not deductible.
Sane: The person on whom zakat becomes obligatory must be of sound mind according to Imam Abu Hanifa. Imam Malik holds that an insane person is still liable for zakat.
An adult: Children do not have to pay zakat, even if they own enough wealth to make zakat obligatory. In complete ownership and control of their wealth: The person must own and be in possession of the wealth, and also be free to spend or dispose of the wealth in any manner they like. If a person has made a loan of their wealth then they are not in a position to spend it until it is repaid. In possession of wealth above the nisab threshold: The person should possess wealth above a defined amount required to satisfy the essential needs of themselves and their dependents nisab.
Free from debt: Someone in debt may deduct their debts from their assets. If what remains is still above the nisab threshold, zakat is due, otherwise not. In possession of the wealth for one complete lunar Hijrah year: If one owns zakatable wealth for a lunar year, zakat will become obligatory on the amount remaining at the end of the year, provided the total amount of wealth exceeds the nisab at the beginning of the year and the end, irrespective of any fluctuations in the months between.
Can I pay zakat in advance? Yes, zakat can be paid in advance before the year has ended, but you should make sure you have wealth equal to or above the nisab. Who can receive my zakat? To be eligible to receive zakat, the recipient must be a poor Muslim. A poor person is someone whose property in excess of his basic requirements does not reach the value of the nisab threshold. The recipient must not belong to your immediate family: your spouse, children, parents and grandparents cannot receive your zakat.
Other relatives however, can receive your zakat. Zakat al-Fitr fitrana Before the Eid al-Fitr prayer at the end of Ramadan, every adult Muslim who possesses food in excess of their needs must pay zakat al-fitr for themselves. The head of household can also pay on behalf of their dependants such as children, servants and elderly relatives. The head of the household is responsible for paying zakat al-fitr for all dependants Zakat al-fitr can be paid during Ramadan, before Eid al-Fitr prayers at the latest, so that the poor can enjoy the day of Eid.
The minimum amount due is the equivalent of about 2 kg of wheat flour, rice or other staple foodstuff, for each member of the household, including children and dependants — even if they do not live in the same house.
Recipients of zakat al-Fitr are the poor and those in need, who are entitled to receive general zakat. Islamic Relief acts as your charitable agent, using your zakat al-fitr to buy and distribute food on your behalf. I gave a lot of money to charity over the year.
As an obligatory act of worship, your payment should go towards helping Zakat-eligible individuals, as decreed by the Prophet Muhammad PBUH. When to pay Zakat? Zakat is typically based on a full lunar year, and as such, most Muslims pay this towards the end of the year. While this can be paid at any time, many choose to pay Zakat during Ramadan. Who can we give Zakat to? Zakat payments are divided between those most in need, as determined by the Holy Qu'ran:.
Muslim Aid is an international organisation with almost 35 years of experience assisting some of the most vulnerable people in the world. The majority of our campaigns and appeals are Zakat-eligible, meaning that your donation has the power to really make a difference when you partner with us.
Quick Donate. Pay your Zakat How to work out Zakat? How much is Nisab for Zakat Silver — the value of Base Nisab Value of Silver Gold. Value of Gold. Value of Silver. In hand and in bank accounts. Deposited for some future purpose, e. Given out in loans. Business investments, shares, saving certificates, pensions funded by money in ones possesssion.
Value of Stock. Borrowed money, goods bought on credit.
0コメント