Please clearly explain that is zakat for money(currency we earn ) has to be given as 2.5% irrespective of the amount of money and nisab is there in other things like gold silver etc. And if i am earing money and utilizing it then how to calculte zakat.Which month should be considered for one year calculation?

Answered according to Hanafi Fiqh by Darulifta-Deoband.org
Please clearly explain that is zakat for money(currency we earn ) has to be given as 2.5% irrespective of the amount of money and nisab is there in other things like gold silver etc. And if i am earing money and utilizing it then how to calculte zakat.Which month should be considered for one year calculation?

Answer

(Fatwa: 470/28=B/1430)

 

(1) The zakah is calculated as per the silver nisab which is 52.5 tola i.e. the price of 52.5 tola silver is the nisab of Zakah. If you own this amount of money for one year, you will have to pay its fortieth part (2.5%) as Zakah.

(2) Now, you should remember the month in which you paid the Zakah. The next year in the same month, if you have saved amount equal to nisab or more, then separate 2.5% of the total as Zakah i.e. the 2.5% which you took out will be considered Zakah.

Allah (Subhana Wa Ta’ala) knows Best

Darul Ifta,
Darul Uloom Deoband

Sidebar