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Zakat Calculations
Can Zakat be given throughout the whole year? What is the preferred way to give it?I have kept some gold for my children. Is Zakat applicable on that gold?I have made an investment whose profit I will receive in July. How will Zakat be calculated on that?My elder brother’s widow and her children have limited sources of income. Can Zakat be given to them?There is a commercial building where half of the floors have been sold and half are still remaining. There is no income coming from this building. Is Zakat applicable on it? If yes, then what percentage should be given?
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4 Replies
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Zakat Calculations
updated 1 month, 2 weeks ago
2 Members
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4
Replies
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Zakat can given thoughtout the year. The sooner you pay the better.
If gold is jewelry for girls, it will be exempted from zakat because things of needs are exempted. If the gold is to sell later to gain profit, it is asset and will be included in your assets to pay zakat. The same is for the profit. Include it in your assets while calculating zakat.
Relatives are prioritized for zakat. You should give them.
The owner of the building will pay zakat on the portion of the building in his ownership. He will pay at the rate of 2.5 percent annually.
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Jazak-Allah khair Doctor Sahab for this info.
Need little bit more details…
1. For my investment, do i need to calculate Zakat on profit only e.g. I will get fix profit of 8% on my investment amount thus I have to calculate Zakat on 8% only?
2. For Relatives, I am doing their Kafalat with certain amount every month, I heard that in such condition, they cannot be eligible for Zakat.
3. Sorry for asking again about Jewellery, is this really concrete that even if I have 1kg of Gold (18,21,22 carat) but not for investment then Zakat is not applicable on it?
4. How to calculate Zakat if investment is made in stock market?
Also is there someway where we can call and get answers on Zakat Queries in details?
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Preference must be given to your relatives in zakat distribution.
Jewelry is in use or for use of the girls for the marriage it is a need and therefore it will be exempted from zakat.
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