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Regarding Zakat calculation

Answered according to Hanafi Fiqh by Darulifta-Deoband.com
I am a private tutor and earn money through fees of the tuitions. Till end of year 2018, I accumulated 4 lakh. Now this year in 2019, by end Shaban my TOTAL amount in bank would be 8 lakh (that is 4 lakh of year 2018+4 lakh earned from Ramadan of 2018 till Shaban of 2019). I have a loan of Rs 75000. So how much Zakat will I have to pay?

بسم الله الرحمن الرحيم

(Fatwa: 816/707/SD=09/1440)

 

You will have to pay zakah on the remaining amount after deducting 75000 from eight lakh.

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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