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Recently Acquired and Saved Money in Zakat Calculations

Answered as per Hanafi Fiqh by Seekersguidance.org

Answered by Ustadh Tabraze Azam

Question: We bought some gold two months ago.  Do we have to pay zakat on it, or it is only taken out on gold which I have more than one year?

And also my husband has saved some money from his pay check since January 2012 to buy a house. We have had that money for 7 months.  Do I have to pay zakat on it as well. or only the money which we have had for one year. Also, would he have to pay zakat on the paycheck he received this month?

Answer: Assalamu alaikum wa rahmatullahi wa barakatuh,

I pray that you are well, insha’Allah.

One adds the wealth gained during the zakat year to the wealth which is already in one’s possessions. [Shurunbulali, Maraqi al-Falah; `Ala al-Din `Abidin, al-Hadiyya al-`Ala’iyya]

Hence, you would include your recently purchased gold, recent pay checks, and other saved money and assets in your zakat calculations.

See: Zakat: How to Calculate it and Who to Give it to

And Allah alone gives success.


Tabraze Azam

Checked & Approved by Faraz Rabbani

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How Do I Determine How Much Zakat I Owe?

How Do You Determine How Much You Pay for Zakat When You Constantly Receive New Wealth During the Year?

This answer was collected from Seekersguidance.org. It’s an online learning platform overseen by Sheikh Faraz Rabbani. All courses are free. They also have in-person classes in Canada.

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