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Zakat Question
If someone earns 80000 RS per month. Your calculator says that zakat on it is 10% of the amount earned which is about 8000 rs. Have I understood it correctly.
Or zakat is on savings. Eg. If the same person earning 80000 RS but saving 5000 RS per month. And zakat is calculated on the savings of 5000 RS.
Plz elaborate.
Thanks
Omer
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1 Reply
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Zakat Question
updated 10 months, 3 weeks ago
2 Members
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1
Reply
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The first is correct. Zakat on savings is charged at the rate of 2.5% per annum. Keep in mind that the taxes paid are counted as zakat paid.
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