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Please tell us about zakah on gold every year?

Answered according to Hanafi Fiqh by Darulifta-Deoband.com
Please tell us about zakah on gold every year? Is zakah must every year on gold or one time on gold?

Answer

(Fatwa: 1193/995/B=1432)

Yes, it is wajib to give the zakah of gold on the fortieth part of its price. It is mentioned in hadith: do not store the gold otherwise zakah shall consume it, rather invest it in the business so that you can get its benefit.

Allah (Subhana Wa Ta’ala) 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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