Please clarify if I am right/wrong in calculating my zakah. I simply calculate approximately my zakah 2.5% on the total amount (balance in bank+ current value of the investments in stocks/mutual funds + provident fund balance) currently at the month of Ramadan regularly. I had read a Hadith in which the Prophet Muhammad PBUH had said that the excess zakah paid is just like that no zakah was paid.
Answer:
(Fatwa: 149/125/B=1433)
We could not find any such hadith. It is right to pay 2.5% as zakah.
Allah (Subhana Wa Ta’ala) knows Best
Darul Ifta,
Darul Uloom Deoband