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Zakat On Gold Ornaments
As for my understanding there is no zakat on useable goods or things. If it’s so is it applicable to gold ornaments used by our women folks .
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3 Replies
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Zakat On Gold Ornaments
updated 3 years, 3 months ago
2 Members
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3
Replies
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Any assets considered as items of personal use are exempt from zakat. This includes gold ornaments, jewelry, and all other valuables.
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If it’s so what is the philosophy of having minimum mikhdar of gold and silver to pay zakat . What about the gold and silver ornaments in excess of this if they are of personal use ? Is it only a measurement to calculate the wealth of an individual to pay zakat ? Every household will have gold ornaments for personal use only but very few will do it with a main intention of hoarding and investment ? Yet are they exempted?
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What you’re referring to is called nisab. Please refer to following video from 6:26 to 12:56:
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