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I took a loan of 200000, i pay 32000 every year(including interest). my annual saving is 50000.then what will be the Zakaat.

Please clarify my queries, I want 2-3 clarifications 1. i want to ask on what amount we have to pay Zakaat. if we take it in term of silver it is comparatively very low as compared to gold. if i have got cash or any other precious metal, shall i consider it in term of silver or gold. also what is the criteria concerning debt. if i have taken a loan that i shall be paying in installments in 20 yrs how will i account for that? let us take a example i took a loan of 200000, i pay 32000 every year( including interest). my annual saving is 50000. then what will be the Zakaat. also if i have taken a loan, will it be taken into account while calculating Zakaat on my wife’s jwellary. 2. i was told by a person that we must not offer salat if we are wearing some leather garment such as belt or jacket because you dont know if the leather from which that is made of may not have been obtained in halal way. for example the animal that was slaughter by a non muslim or a dead animal or the leather might have been bought by someone from his haram money i also want to know can we offer salat having some photo in your pocket such as money or my own photograph please clearify.

Answer

1. If you have cash, equivalent to the minimum Zakaatable amount, then Zakaat is due on the cash at 2.5%. If you have taken out a loan, the debt of only one year will be regarded as a liability and deducted from being Zakaatable. In your case, Rs32000. You will have to pay Zakaat on Rs18,000 from the Rs50,000 savings. The Zakaat on your wife’s jewellery will be her responsibility, not yours. Your loan got nothing to do with the Zakaat due on her for her jewellery.

2. It is permissible to offer Salaat with any form of leather, belt, jacket from any animal besides a pig. It is also permissible to offer Salaat with money in the pocket with pictures of animate objects on the money.

and Allah Ta’ala Knows Best

Mufti Ebrahim Desai

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This answer was collected from Askimam.org, which is operated under the supervision of Mufti Ebrahim Desai from South Africa.

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