Kindly calculate Zakaat for following:
Cash on hand R20000. Car financing bal.R25000. Monthly car installment R1450. Shukran.
Answer:
In the Name of Allah, the Most Gracious, the Most Merciful.
As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.
In principle, if one does not possess the Nisaab (quantum) of Zakaat or one’s liabilities exceed one’s assets, then one is not obligated to pay Zakaat.
With regards to your question:
If you have only R20.000 and other Zakatable assets, then you are not obligated to pay Zakaat since your liabilities exceed your total assets.[1]
The above ruling will only apply if Zakaat had not become Wajib before you had taken out a car financing loan.[2]
Kindly refer to the following Zakaat table for more details:
|
Personal Wealth |
Amounts: |
|
1. Amount of Cash and Savings at home or in the bank |
R 10,000 |
|
2. Current value of any gold and silver jewelry, coins, utensils etc |
R 5,000 |
|
3. Value of assets and merchandise for trade |
R 20,000 |
|
4. Receivables and loaned amounts to others |
R 5,000 |
|
Total these amounts here: |
R 40,000 |
|
Amount Debts to be paid: |
R 20,000 |
|
Subtract the total amount of debts for the year from the above amount. |
|
|
Nett Total of Zakatable Wealth |
R 20,000 |
|
if the net total of Zakatable Wealth is more than the Nisab amount then… |
|
|
Multiply the net total by 2.5% (nett amount x 0.025) |
R 500 |
And Allah Ta’āla Knows Best
Moulana Ismail Desai,
Student Darul Iftaa
Durban, South Africa
Checked and Approved by,
Mufti Ebrahim Desai.
1 فارغ عن دين له مطالب من جهة العباد (تنوير الأبصار، ج 2، ص 261، ايج ايم سعيد)
و هذا اذا كان الدين في ذمته قبل وجوب الزكوة، فلو لحقه بعده لم تسقط الزكوة لأنها ثبتت في ذمته فلا يسقطها ما لحق من الدين بعد ثبوتها جوهرة ( رد المحتار، ج 2، ص 261، ايج ايم سعيد)
أحسن الفتاوي، ج 4ن ص 260-261، ايج ايم سعيد
فتاوي محموديه، ج 14ن ص 37، محموديه