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Zakat in Islam
What is Zakat
Who has to pay Zakat
Who is supposed to receive Zakat
Amounts & Minimums
Causes & Beneficiaries
Zakat Q&A
Calculate Your Zakat Easily
Cash on hand and in bank accounts
(saving,checking, etc.)
This is the total amount of cash you have at this time. This amount could be in bank accounts, at home, or in your wallets etc.
Refundable deposits
(e.g. on rented apartment)
That is the total amount of deposits you expect to receive back at some point in the future, such as rental deposit. Although this amount is not in your possession at the moment, but it is actually yours, therefores zakat due on it.
Non-delinquent loans
(money you loaned to others)
That is any amount of money you loaned to others and you expect it back when it is due. This is still considered your money, although it is not in your possession at the moment. However, if you think certain loan will not be paid back fully, or on time, then you don't have to pay Zakat on it every year. The day you receive it back, you pay zakat on it. The zakat due will be only for one year (2.5% of total amount).
Expected Tax refund Detail
The amount of tax refund, which you expect to receive, is your money. Although it is not in your possession right now. You have to pay Zakat on it.
Gold and its certificate (1) Detail
If you own or invest in gold or other precious metals, you must pay Zakat on their current value. However, women jewelry is not subject to Zakat unless its amount is above the average jewelry for everyday usage.
Shares, stocks, bonds, IRA, pension plans, options, etc. Detail
If you invest in stocks or bonds, or if you have certain pension plan, these are considered part of your wealth and you have to pay Zakat on their total current value.Although you may not be able to cash your pension plan, at this moment, it is yours. Also, although investing in bonds is unlawful, on their value zakat is due.
Business cash on hand and in banks plus invoices due. Detail
This is the total amount of cash you have at your business bank accounts as well as in your hand. Even the invoices that are due and you expect them to be paid, you pay Zakat on them.
Business inventory (2) Detail
If you have a business, you pay Zakat on the wholesale value of all commodities you have. However, you don't need to pay Zakat on the equipment and tools you use to conduct your business such as computers or refrigerators.
Net income you are entitled to as of Zakat due date. (For example, your next paycheck that you worked for already) Detail
That is any receivables you expect to get such as fees for some job you already did or your last payroll check you already worked for.
Total amount subject to Zakat (lines 1 through 9)*
Zakat amount :
(If the amount is 0, then no Zakat is due.)
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