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How is zakat calculated?

Answered as per Hanafi Fiqh by Darulifta-Deoband.com
What is the procedure of zakat.

Answer

(Fatwa: 982/982/M=1431)

Zakah is fardh on a person who owns 52.5 tola silver or 7.5 tola gold or cash or business material equal to it. The day on which one will own the above mentioned amount, it is wajib on him to pay 2.5% as zakah after passing of one complete year. And it is necessary to hand over this zakah to poor and needy ones. If you mean any thing else, explain it and submit your question again.

Allah (Subhana Wa Ta’ala) knows Best

Darul Ifta,
Darul Uloom Deoband

This answer was collected from the official ifta website of Darul Uloom Deoband in India.

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