Q: I would like to know about Zakaat and how do I know if I should be paying or not and if I should be paying Zakaat how do I go about calculating how much I must pay.
A: If the net joint or individual value of your gold, silver, cash or goods bought with the intention if reselling maintains the minimum zakaat value after deducting your current liabilities for one Islamic year you will pay two a two half percent of complete value.
And Allah knows best
Aadiel Moosagie (Mufti)
Council of Ulama Eastern cape
+27 83 982 6968
[email protected]
www.councilofulama.co.za
@UlamaCouncilEC