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A Comprehensive List Of Items Exempt From Zakat Or Zakat Amount?
There are lot of questions about the following types of assets. Is there a comprehensive reference list of items exempt from Zakat or with the Zakat amount. All these wuestions have been answered but not as a list in one place.
For example.
1. The salary already taxed more than recommended Zakat percentage?
2. Business profits already taxed more than recommended Zakat percentage?
3. Savings to buy a personal home. What is the limit
4. Savings for emergencies. What is the limit
5. Savings for retirement. What is the limit
6. Savings for children’s education. What is the limit
7. Savings for children’s wedding. What is the limit
8. Personal assets, car, boat, motorcycle, airplane, regularly wearable jewelry. What is the limit
9. Personal living expense. Any limit?
10. Raw material for production
11. Inventory for sale
12. Business real estate
13. Business or agricultural machines used for production
14. Animals used instead machines for production
15. Animsls kept for production of milk
16. Animals kept for resale/assets
17. Animals kept as savings for any of the reasons mentioned above for savings.
18. Financial investments, stock, bonds, digital currency, investment in commodities, etc
19. Appreciation of value of above investments, but not cashed
20. Appreciated value of above investments cashed
21. Social security income
22. Withdraw of 401k and other retirement funds
23. Insurance money received
24. Money from an injury lawsuit
25. Money from non injury lawsuit
26. Assets from divorce
27. Legacy or Bequest
28. Treasures or find
29. Gifts
30. And others
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3 Replies
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A Comprehensive List Of Items Exempt From Zakat Or Zakat Amount?
updated 3 years, 6 months ago
2 Members
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3
Replies
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Have you used our zakat calculator reading description of each box?
Please enter appropriate numbers in our Zakat Calculator after reading description for each box. When you reach the end, it will generate a statement showing you exactly what you owe after any applicable deductions, and what percentage was applied to what. It’s also a great way to learn the sharia of zakat.
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Yes Faisal I read the whole thing and used it too. It covers some of the items I listed. I was wondering if there was a quick reference list or perhaps the Zakat calculator may be enhanced to provide a list of all the scenarios I listed and more.
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There’s no need for any comprehensive list. I can’t go over your complete list because most if it is redundant if you read the descriptions in the calculator, but I will comment on a few:
#1, #2: already accounted for in the calculator
#3, #6, #7: no limits as long as those savings are genuinely for the stated purpose
#8 all personal assets are exempt
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