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Zakat On Savings Out Of Monthly Allowance Received From Parents
Assalam-o-Alaikum
My question is related to zakat. I am currently not doing any job I have zero monthly earnings of mine.
However my father gives me 10k PKR every month for my needs. So I have bit savings from that amount. Can I give zakat based on that savings or is it necessary that you earn your own ?
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3 Replies
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Zakat On Savings Out Of Monthly Allowance Received From Parents
updated 2 years, 3 months ago
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Zakat on assets is due once every year. Your state may determine a day of the year for your zakat to be due. If not, you can pick a day of the year and pay your zakat on the same day every year. This zakat is calculated as 2.5% of the sum total of all of your cash as well as the current value of all other assets in your possession on the day when your zakat becomes due. You are only liable for this type of zakat if the total value your assets and cash on the day of zakat is above nisab.
In addition to any exemptions your state may grant you, the following items are always exempt from your zakat:
– Items of personal use (e.g. your car, house, and personal use jewellery)
– Means of production (e.g. farm lands, factories, tools, and equipment)
Nisab
Nisab for assets is the minimum amount below which your state exempts tax or zakat on assets. If your state does not provide a nisab then you can use the standard nisab of 642 grams of silver or equivalent value.
You may enter appropriate numbers in our Zakat Calculator after reading the 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 each category. It’s also a great way to learn the sharia of zakat.
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Sir my question is not clear.
I just want to ask if I am applicable for zakar or not because I have no earnings of my own but I receive 10k from my father every month and I have savings from those amount and it’s been year i have those savings so am I applicable?
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Earnings / production zakat is different which you’re not liable for. Zakat on assets has nothing to do with earnings and you may be liable for it according to the information provided above.
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