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What is the formula for calculating zakah?

Answered as per Hanafi Fiqh by Darulifta-Deoband.com
How to calculate zakah?

بسم الله الرحمن الرحيم

(Fatwa: 987/793/D=09/1436)

You should calculate your capital every lunar year on the date in which you first turned sahib nisab. Calculate cash, silver, gold, business goods, the debt if you have taken from someone together and deduct the amount that you have taken as a debt from someone then pay its zakah at the rate of 2.5% on the total amount. You should calculate your zakah in this way. Whatsoever amount is applicable to be paid as zakah you may pay it in one time or in fractions. If you want to know more then submit your query again.

Allah 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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