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Is Zakat Obligatory On Whole Saving Or The Amount Exceeding The Nisab?
Please guide:
If all I have is $10,000 in savings for over a year. Is my zakat 2.5% of $10,000 or is it 2.5% of what exceeds the value of 52 tola silver. (For eg if 52 tola silver is 6000 right now (only an example)) then is zakat 2.5% of 4000 remaining.
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1 Reply
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Is Zakat Obligatory On Whole Saving Or The Amount Exceeding The Nisab?
updated 2 months, 1 week ago
2 Members
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Reply
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There can be difference of opinion on whether Zakat percentage should be applied on amount only above Nisab threshold or on the whole amount as soon as it crosses the Nisab threshold. Please see these responses of Ghamidi Sahab in this regard:
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