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Saturday, August 13, 2011

ZAKAT RAMADAN FITR--- EID UL FITR


Regarding zakat, what I know are
1. Eligibility for zakat: If you have more than 7 and half  tolas of Gold or 52 and half tolas of Silver. So many of you are still not eligible,okay????
2.Items on which zakat is to be given: Please go through the zakat calculator (Attached),you will understand yourself..It is more like wealth tax. It is on the amount lying with you for one year.A man may earn Rs. 1 lakh a month but spends the entire amount of his salary, is not liable to play Zakat, even if he had earned Rs. 12 Lakhs a year.
3.Financial year: Take any date in the month of ramadan  Ramadan is gud for remembering the date.
4.What about the fluctuating value of gold and the amount of zakat to be paid : Always take a higher value.Its always better to pay more than pay less zakat.
And better still contact your friendly neighbourhood moulavi for more knowledege....
NEXT QUESTION IS WHY PAY FITR ? And the amount of FITR in Delhi is Rs.30/= per person.
Please share your knowledge.
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Zakat is not income tax. It is more like wealth tax. It is on
the amount lying with you for one year.


A man may earn Rs. 1 lakh a month but spends the entire amount of his
salary, is not liable to play Zakat, even if he had earned Rs. 12 Lakhs
a year.

The calculation of the financial year is extremely important. It should
be calculated from the day you have become Sahibe Nisaab. Note down the
Lunar date (Arabic calender) and also the amount you have with you. Say
you have Rs. 2 lakh (the day you have crossed the value of 7 and half
tolas of Gold or 52 and half tolas of Silver). Then, exactly on the
same date next year calculate how much money you have. Say, it is Rs. 5
Lakh. Then your Zakat will be due on Rs. 2 Lakh. (The rest of the
amount, that is Rs. three lakh, have not completed one year
.) Again

next year, on the same date suppose you have Rs. 10 lakhs with you.
Then Zakat will be payable on Rs. 5 Lakh which completed a year.
Although it appears to be simple I was initially confused about one
thing. That is, what about the amount that completes a year in the
middle of YOUR FINANCIAL YEAR. I thought that Zakat will be payable on
that too. No one could give me satisfactory answer to that. But reading
books I could make out that the identification of the FINANCIAL YEAR is
important. Accordingly I have decided on the formula above. Of course
there are many other fine points (masails) to be taken note of. But
broadly that is what I understand.


Since I could not remember when I became a Sahib e Nisaab, I have
taken the 15th Ramzan as the date to calculate my Financial Year. This
may not be entirely correct, but at least it gives me a convenient
reference point. I am no scholar on the subject. I am only stating what
I understand. There may be points of disagreement.
 Saleem,

I have added one very important correction. Please rectify the mistake
I have made. It is regarding the zakatable amount.

The completion of one year is necessary only regards to your being
considered a Sahib e nisaab or not. Otherwise you are liable to pay
Zakat on the amount lying with you on the completion of the relevant
financial year.

That means if you get Rs. 10,00,000/- only a month before the due date
of calculation, it is also zakatable. I have corrected my position
after doing some reading and confirmed it from my spiritual teacher.

I sincerely apologise for the confusion.

Khuda hafiz,

Assalaamualaikum,

Manju
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Its time to think about Zakat , May people does not know even his Zakat
is due.


The tool Zakat Calulator will help them who knows computer.


Common muslim does not know how to calculate Zakat.


Even people say '....as I do not have 9.5 tola GOLD , I am not liable.
"ý and feel happy.


A simple though has come to my mind " What is the significance of
prohibating wearing GOLD for men in islam "




for salaried person , every month 2.5% of his salary should be
accumulated separately ( and should not be touched in any condition )
and give to people as mentioned in Quran . This is very simple. and
straight .




I think ZDS ( Zakat deduction at source )ý is better.

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