Pillas of Islam
Zakat - Zakat Calculation
Zakat is significant mainstay of Islam. The interpretation of Arabic word Zakat is 'sanitization' and 'development'. We decontaminate our assets by paying Zakat and we are honored with development because of Zakat.
Zakat is determined measure of cash which a muslim is required to pay to certain meriting gathering of individuals.
The gathering of individuals who are qualified for accepting Zakat are referenced in surah at-Taubah (9) refrain 60: " The offerings are just for poor people and the destitute, and the individuals who gather them, and those whose hearts are to be accommodated, and to free the hostages and the account holders, and for the reason for Allah, and (for) the wayfarers; an obligation forced by Allah. Allah is knower, Wise." (The Holy Qur'an 9:60).
Allah says in Surah at-Taubah refrains 34-35: "34:O ye who accept! there are without a doubt numerous among the ministers and anchorites, who in Falsehood eat up the substance of men and impede (them) from the method for Allah. What's more, there are the individuals who cover gold and silver and spend it not in the method for Allah. report unto them a most heinous punishment 35:On the Day when warmth will be created out of that (riches) in the fire of Hell, and with it will be marked their brows, their flanks, and their backs, their flanks, and their backs.- "This is simply the (treasure) which ye covered: taste ye, at that point, the (treasures) ye covered!" (The Holy Qur'an 9:34-35).
The prophet Muhammad (pbuh) in one of the hadith stated: "Any proprietor of gold and silver who doesn't convey from them their right, on the Day of Quiyamah (Day of Judgment), (the gold and silver) will be molded as foils of fire. At that point it will be warmed in the fire of Hell; (and afterward) with it he will be pressed on his side, his brow, and his back" (described by Muslim).
A muslim is required to pay Zakat when he/she has cash is equivalent or more prominent than nisab. The nisab or least measure of cash is comparable to cost of 85 grams of unadulterated gold.
Zakat is expected after the section of one Lunar year (approx. 355 days) of having the ownership of cash by the proprietor. Zakat is 2.5% or 1/40 of the cash possessing the proprietor. The proprietor ought to deduct the advances the individual in question has acquired from others. At that point check of the rest of equivalent or more prominent than the nisab, in the event that in this way, at that point the individual should pay Zakat on it.
Each muslim ought to compute and pay Zakat in the event that it is expected upon the person in question.