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Do I need to pay zakah on $5000 or $10000?

Answered as per Hanafi Fiqh by Darulifta-Deoband.com
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?


(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

This answer was collected from the official ifta website of Darul Uloom Deoband in India.

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