Academia.eduAcademia.edu

A GUIDE TO ZAKAH

Zakah is fardh on a person who owns at least equivalent to the nisab (a particular threshold) for one year. The nisaab of zakah in gold is 87.479 grams and for silver 612.36 grams. Therefore if a person has excess equivalent to 87.475 grams of gold or 612,34 grams of silver or their equivalent value in local currency besides his basic needs, then he must pay zakah. Answerstofatawa

A GUIDE TO ZAKAT 1 WHO IS LIABLE TO PAY ZAKAT CONDITIONS FOR THE VALIDITY OF ZAKAT 3 2 I FORGOT MY ZAKAT DATE WHAT SHOULD I DO? AND MUCH MORE... 4 What is the meaning of zakat? Zakat literally means to purify and an increase in barakah. By giving zakat a person purifies himself from sins, miserliness and the remainder of his wealth. It also becomes a means of increase of a person’s wealth. Consider the following narration: ِ ِ ‫ َﻋﻦ رﺳ‬،‫َﻋﻦ أَِﰊ ﻫﺮﻳـﺮَة‬ ‫ﺻ َﺪﻗَﺔٌ ِﻣ ْﻦ‬ َ َ‫ ﻗ‬،‫ﺻﻠﱠﻰ ﷲُ َﻋﻠَ ْﻴ ِﻪ َو َﺳﻠﱠ َﻢ‬ ْ ‫ﺼ‬ َ ‫ﺖ‬ َ ‫ » َﻣﺎ ﻧَـ َﻘ‬:‫ﺎل‬ َ ‫ﻮل ﷲ‬ ُ َ ْ َ َْ ُ ْ ٍ ‫َﻣ‬ ‫ﺎل‬ ‫( ﺻﺤﻴﺢ ﻣﺴﻠﻢ‬4/ 2001) Abu Huraira (radiyallahu anhu narrates) that the prophet (sallalahu alayhi wa sallam) said: charity does not decrease wealth. (Muslim, v4, pg2001) Who is liable to pay zakat Zakat is fard on a person who owns nisab (minimum zakatable amount) for one year. The nisaa b of zakat in gold is 87.479 gra ms and for silver 612.36 gram s. Therefore if a person has excess equivalent to 87.475 grams of g old or 612,34 gra ms of silver or their equivalent value in loca l currency besides his basic needs, then he is liable to pay zakat. The following are zakata ble item s: Conditions for the validity of zakat Zakat can only be given to the rightful recipients of zakat. Allah Ta`ala says; [60 :‫اﻟﺼﺪَ ﻗَ ُﺎت لِﻠْ ُﻔ َﻘ َﺮا ِء َواﻟْ َﻤ َﺴﺎ ِﻛﲔِ ]اﻟﺘﻮﺑﺔ‬ � ‫} اﻧ � َﻤﺎ‬ � Alms (zakat) are only for the poor (who have nothing or very little), the destitute (people whose total wealth is less than the value of nisaab) One of the conditions for the validity of dispensing ones zakat is that the poor person is made the owner of the zakat money. If the poor person is not made the owner of the money, zakat will not be dispensed. Therefore, zakat cannot be used for building a masjid, madrasah or digging a well. Intention of zakat must be made at the time of dispensing the money to the rightful recipient or while separating the zakatable amount from the rest of one’s money. 1. Gold and silver 2. Cash, saving s, money lent to other 3. Business stock Business stock refers to those item s that were purchased with the intent of resale. For example: item s which a shopkeeper has for sale 4. Agriculture produce 5. Animals and livestock Note: Zakat is not compulsory on a house a person lives in, nor on the car a person drives. If a person has rented out a house or car, zakat will be com pulsory on the rental income and not the house or car itself. . ....... Zakat must be paid using the lunar calendar and not the solar calendar Zakat should be paid using the lunar calendar and not the solar calendar. Therefore, if for example 11 of March was the first time you acquired money equal to or above the nisaab, then you must find out the Hijri date of 11th of March of that year. I forgot my zakat date what should I do If you are unaware or have forgotten your zakatable date according to the lunar calendar, then apply your honest discretion as to when possibly you became eligible to give zakat. If you are not able to ascertain that in any way by looking at your bank statements or business progress schedule etc, then choose a lunar date and start dispensing your zakat from that date Can zakat be discharged before ones zakatable date? Zakat can be discharged before or after ones zakatable date. Therefore, if your friend is eligible to receive zakat you may assist him by giving him your zakat before your zakatable date. Is zakat compulsory on a bad loan In principle, zakat is not compulsory on a bad loan when there is very little hope or no hope of the loan being repaid. However, if a debtor is taking long to repay the loan but there is hope that the loan will be repaid, zakat will be compulsory on the person. In the case of a bad loan where one lost hope of not being paid, if the loan is repaid then zakat will be payable after having being paid. There won’t be zakat due for the past on that amount. For example: A person receives a bad loan of €5000 after many years. When his annual zakat date comes, he will now add that amount to his total assets and give zakat on the total amount in spite of not paying zakat on the previous years. I have a debt which exceeds my assets If a person’s liabilities exceed his assets and income he does not have to pay zakat. For example: a person has €30.000 in his bank and he has a debt of €50.000 which has to be pay that year and not in instalments, he will not have to pay zakat. However, if a person has a debt of €50.000 which has to be paid in instalments, only that amount which has to be paid that year will be subtracted from a person’s total estate. For example: a person has a debt of €50.000 which has to be paid over 10 years which is €5000 a year. The amount of €5000 will be subtracted from the total estate and not €50.000. How should one pay zakat on stock Zakat is paid on the average market price of an item. Therefore, if the price has dropped from €1000 to €800, zakat will be paid on €800. However, if one pays zakat on the actual selling price, this will be a matter of caution (ihtiyaat). Who can zakat be given to? For example: A shopkeeper’s zakat year has come to an end. He calculates the price of everything at its average market price. His stock comes up to €5000. He also has a cash balance of €5000. He will add both these amounts and give Zakat on the total €10,000. Zakat can only be given to a person who does not own nisaab which is 87.475 grams of gold or 612,34 grams of silver or their equivalent value in local currency besides his/her basic needs. Note: zakat cannot be given to one’s ascendance ( i.e. mother, father, grandmother, grandfather etc)and decadence (i.e. children such as sons, daughters, grandsons, granddaughters etc). Can zakat be given in food and clothes The recipients of Zakat can only be Muslims. Zakat cannot be given to non-Muslims. Zakat can be discharged in cash or in kind. Accordingly, Zakat in food and clothes may be given to the Muslim who are eligible to receive Zakat. Non-Muslims may be assisted with Lillah funds. Ca lcula t e you r z a k a t Personal wealth Am ounts: Total am ount of cash at hom e or in the bank € 10 ,0 0 0 Current value of any gold/ silver jewelry € 5,0 0 0 Value of assets and m erchandise for trade € 20 ,0 0 0 Receivables and loaned am ounts to others € 5,0 0 0 Total these am ounts here: € 40 ,0 0 0 Am ount of debts to be paid: € 20 ,0 0 0 Subtract the total am ount of debts for the year from the above amount. Nett total of zakatable wealth € 20 ,0 0 0 If the net total of zakatable w ealth is m ore than the nisab am ount then… Calculate 2.5% (nett am ount x 0 .025) VISIT AND SUBSCRIBE HAVE A QUESTION? Visit our website and subscribe to: www.answerstofatawa.com to receive regular updates on our latest fatawa For any Islamic fiqh questions, you may visit our site and submit your question. Or alternatively you may email us at: info@answerstofatawa.com © answerstofatawa - 2016 € 50 0 WE WORK WITH