Who Should Pay Zakat?
Do I need to pay Zakat? This is every muslim's question
Yes, it is compulsory for muslim based on certain conditions and criteria
Any Muslim who possesses the required nisaab (the minimum amount of wealth that one must have before zakat is payable) for one whole year is bound to pay Zakat on that wealth.
Choosing Ramadan as the month to pay ZakatThis is clearly because Ramadan is the month of blessings and the rewards for all good deeds is far greater in this blessed Ramadan that in any other month. We can pay any month.
Zakat Cannot Be Used For
to bury the deceased
to clear the debt of the deceased
To whom we can give Zakat
- The Poor & The Needy
The poor people have some wealth but they are not having enough wealth to make up for nisaab.
- The Destitute –
People who have no wealth or funds. They are living their life on the very basics necessities of life.
Zakat Collectors – People who collect Zakat as well as distribute it.
- Muslim Converts – This category was specifically designed to get new Muslim converts who were genuinely poor.
- People in Debt – People who are in debt but cannot pay it back are eligible for Zakat.
- Travellers – Muslims who are in the middle of their journey and out of money are eligible for zakat donations.
How to calculate Zakat
Rate: 2.5% of the amount if you are eligible to pay to Zakat.
If the person's net yearly saving less than nisab value he/she not required to pay Zakat. But if it exceeds required to pay Zakat.
What is the Nisab value for Dirhams and Indian Rupees in 2016
If you are in Dubai or UAE and India it will be helpful for you to get this amount
How much is the Nisab in Gold
The nisab amount is calculated based on the current value of 3 ounces of pure Gold. 3 ounce means 85.04 grams
Nisab value in Dirhams for Gold = (jun 2016) 1 ounce gold = 4723.29 and nisab is AED14169.00
Nisab value in Indian Rupees = (jun 2016) 1 ounce gold = 97,125.30 and nisab is INR2,91,376.00
How much is the Nisab in Silver
Calculate based on 595 g of silver
Nisab value in Dirhams = (jun 2016) 1 gram silver = 4723.29 and nisab is AED14169.00
Nisab value in Indian Rupees = (jun 2016) 1 gram silver = 42 and nisab is INR24990.00