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Zakat And Tax
Asalaamualikum I live in Karachi and work for a software house that develops and maintains Software for Banks. Every month a tax approximately 12.5% is deducted from my monthly salary. I have seen Ghamidi Sb videos where he says that Zakat can be considered as paid if your tax amount is more than that of the Zakat. I have two questions:
1. Zakat is on savings while Tax is on income so how can they both relate?
2. Secondly at the time of my marriage few Gold Jewelry sets were given to my wife from relatives but she very rarely wears them or wears few small tops and chain only at the time of some wedding due to the fear of getting stolen. Is Zakat applicable on that jewelry considering I am already paying 12.5% tax on my income?
Best Regards,
Fahad Saleem
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1 Reply
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Zakat And Tax
updated 1 day, 18 hours ago
2 Members
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There are different kinds of Zakat. Zakat on savings is 2.5%. Zakat on production is 5 or 10 percent, depending upon whether the production involves both capital and labour or only labour or capital. If it is either of capital or labour, the Zakat is 10% of the gross production. Things of use are exempted, therefore, Zakat on jewelry that is used occasionally is exempted. Its lesser use is still a use. Taxes are counted as Zakat paid. In your case, you are already paying more than the Zakat due on your salary.
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