QUESTION:
Please explain in detail how to calculate Zakaah with the use of examples?
ANSWER:
1. If a person has only cash funds, then he will be required to discharge 2.5% of the cash funds in Zakaat if it is equal to Nisaab or more than the Nisaab. For example, a person has R50 000 cash (which is more than the Nisaab), thus he will pay R1250 in Zakaat.
2. If a person possesses only gold jewellery or gold bars/coins, etc. equal to 87.48 grams or more in weight, then he will discharge 2.5% of the value in Zakaat. For example, if the gold is valued at R20 000, then he will discharge R500.00 in Zakaat.
3. If a person possesses only silver jewellery equal to 612.36 grams or more in weight, then he should discharge 2.5% of the value in Zakaat. For example, if the silver is valued at R10 000.00, then he will discharge R250 in Zakaat.
4. If a person has R5000 in cash (which is below the Nisaab), 50g of gold (which is below the gold Nisaab) and 500g of silver (which is below the silver Nisaab), then in this instance, he should add the value of all three and discharge 2.5% in Zakaat . For example, 5000.00 cash, R10 000.00 gold and R3000 silver in total gives us R18000.00. He will discharge R450.00 in Zakaat.
5. If a person has animals and livestock, then one may refer to the Darul Ifta for a detailed explanation on how to calculate Zakaat on one’s livestock and animals.
ALLAH TA’ALA ALONE IN HIS INFINITE KNOWLEDGE KNOWS BEST!
ANSWERED BY:
Maulana Ahmed Saeed
Date: 07 Dhul Qa’dah 1445 / 16 May 2024
CHECKED AND APPROVED BY:
Mufti Mohammed Desai Saheb
