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Zakat for unemployed in Delhi with 500k bank balance and 10k monthly expenses?

Answered as per Hanafi Fiqh by Darulifta-Deoband.com
I am unemployed for more than a year, living in Delhi in rented accommodation therefore having fixed expenses of 10000/- Per month. Currently I have:
Bank balance of 500000/-
Stock market Investment 100000/- (Current value 60000/-)
Please calculate the zakat amount I have to pay this Ramazaan.

بسم الله الرحمن الرحيم

(Fatwa: 1083/840/H=9/1434)

First calculate the sale price of business items if you have, likewise if you have jewels evaluate it; then add them up in the total amount you own along with debts that you have given to others, then if you owe debt to someone deduct the amount from the total, and thereafter calculate zakah (2.5%) of the total in hand.

Allah knows Best!

Darul Ifta,
Darul Uloom Deoband

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

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