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Obligation Of Zakat On A Borrower
Say a person earns a gross annual salary of $100,000 and has outstanding loans or debts of $30,000. Does he have to pay 10% zakat on the remaining amount of $70,000 or the entirety of $100,000?
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Obligation Of Zakat On A Borrower
updated 1 month, 2 weeks ago
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I am assuming that it is a long term loan that you are making installments on. In that case you would pay your production zakat on your entire salary as well as the savings zakat on the entire value of your assets.
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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