Answered by Shaykh Abu Usamah
1. Should a husband and wife’s zakat be computed separately or should it be lumped together?
1. The husband and wife should each compute their Zakah individually.
2. How do you pay zakat on stock whose price has fluctuated throughout the year?
2. Zakah will be payable on the market value of the stock at the date of Zakah calculation. The fluctuation in value during the year is not considered.
3. Is a student (not of sacred knowledge, but at a secular university) obliged to pay zakat?
3. If he possesses Nisab he has to pay Zakah.
[The nisab is the minimum zakatable amount; check a reliable fiqh manual or past answers in the Zakat section at www.sunnipath.com ]
4. Is zakat due on jewelry that has been wore ONCE in the past year?
5. I gave a jewelry set to my wife as part of the mahr and she doesn’t really wear it but keeps it in a bank, is zakat due on that now?
4 &5. Zakah is payable on all gold and silver jewelry whether in use or not.
6. Is a husband obliged to pay the zakat of his wife if she does not earn?
6. No he is not obliged to do so. If he does so on her asking him to then the Zakah will be discharged.
7. I have student loans, should this amount be subtracted from my wealth for zakat calculation?
7. Yes, debts are subtracted from the total assets for the purpose of Zakah calculation.
Allah Ta`ala Knows Best