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Islam teaches us if we make enough for our sustenance and have a lil more extra bugs, we can give this to the poor and the needy in order that they for whom the daily bread butter/dal roti is tough, they can benefit from it
its simple to calculate zakat if you live in the US like me then as per RTT news
http://www.rttnews.com/Content/Commodities.aspx?Id=1613400&SM=1
price of gold in US as of may 2011 is 1530 USD for 1 ounce , now as per the sunni system if ur wealth is worth 85 grams of gold or more then zakid is compulsory on you so in order to know who qualifies for zakat and who deserves it is done via gold by most as :
converting 1 ounce into grams , 1 ounce = 30 grams so the math would be something like :
1530usd ------ 30 gms
x usd--------85 gms
so x = 1530 *85/30 = 4335 so if u make more then 382 dollars of saving an year in America , 2.5 percent of ur annual saving has to go to zakat , so say of the 40000 dollars u saved 1000 dollars at the end of the year then ur zakat is :
(ur fixed assets + annual earnings saved)*2.5/100 = 25 so u are obliged to give this money to make ur money pak of the evil spiritually inshallah this benefits the seeker if any
salam walaikum WA rehmatuallah he WA barakatuhu
Read more: What does Islam teach us about Zakat
What else can I help you with?
How do I calculate zakat on my salary?
To calculate zakat on your salary, you typically need to determine your total annual income and subtract any necessary expenses. Then, you calculate 2.5 of the remaining amount to determine the zakat due. It is recommended to consult with a knowledgeable individual or use online calculators for accurate calculations.
How can one pay zakat on stocks?
To pay zakat on stocks, one can calculate the total value of their stocks and then give 2.5 of that value as zakat. This can be done annually or whenever the value of the stocks reaches the nisab threshold.
How to pay zakat on gold?
To pay zakat on gold, you need to calculate the value of the gold you own and then give 2.5 of that value as zakat. This is typically done once a year. You can either give the actual gold or its equivalent value in cash to those in need. It is important to ensure that the gold meets the minimum threshold for zakat eligibility.
Can a wife give Zakat to her husband for finishing loan?
no a wife cant give zakat or money of zakat to her husband under the masarif of zakat.
Can syed give zakat to syed?
there are two type of Zakat: obligatory Zakat and Mustahab (recommended Zakat). Recommended Zakat is same as non obligatory donations. Syed can receive non obligatory Zakat from all. but obligatory only from Syed.
What is zakat in Arabic?
It is Zakat in Arabic as well. :)
Can you pay zakat in instalments?
No we can not pay zakat in instalment.
What can you get zakat for yourself?
What is zakat even that needs to be answered first
Zakat on Christians in Pakistan?
No zakat on christians but only Muslims.
Can you pay zakat on assets?
Yes we can pay zakat on our assets.
When was The Zakat Foundation created?
The Zakat Foundation was created in 2001.
What if we can't pay the zakat?
zakat is not compulsory on poor people.... but if you are rich and you dont pay zakat out of arrogance than its a sin
