For example: Last year, my bank balance was $5000. I paid zakah on that $5000. Now I have $10000 in my bank account (including the $5000 balance from last year). Do I need to pay zakah on the $5000 that was accumulated this year, or the entire $10000 in the bank? Can you please reply as soon as possible?
Answer:
(Fatwa: 646/603/N=1433)
Zakah is wajib each year; hence you will have to pay the zakah of 10 thousand dollars.
Allah (Subhana Wa Ta’ala) knows Best
Darul Ifta,
Darul Uloom Deoband