How to calculate zakat on gold in indian rupees?
Answers
Answered by
9
In the name of Allah. Peace and prayer of Allah be upon His messenger.
Zakat of gold, silver, and money isn’t compulsory until some requirements regarding it are fulfilled, namely:
The owner is a muslim.
The owner is a free man, not a slave.
The gold, silver, and money are entirely owned.
Its amount has reached the nishab of zakat.
Its amount isn’t diminish for a full one year period.
The Messenger of Allah – peace and prayer of Allah be upon him- said,
لَيْسَ فِي أَقَلَّ مِنْ عِشْرِينَ مِثْقَالاَ مِنَ الذَّهَبِ، وَلاَ فِي أَقَلَّ مِنْ مِائَتَيْ دِرْهَمٍ صَدَقَةٌ
“There’s no zakat for gold which amount is below 20 mitsqal and silver below 200 dirhams.” (Narrated by Abu Ubaid in “Al Amwal” page 50, no. 1113. Classed as valid by Sheikh Al Albani in Irwa-ul-ghalil, no. 815)
According to Mu’jam Lughah Al-Fuqaha’, 1 mitsqal equals 4.24 gram; thus, 20 mitsqal is 4,24 gram x 20 = 84,8 gram.
Our government has defined the nishab for gold for zakat is about 85 gram of pure gold. This is also the opinion of Sheikh Muhammad Ibn Shalih Al Uthaymeen, and this is our stance. And Allah knows best.
If a person has gold weighing about 85 gram or more, he is not obliged to pay for zakat until he has that 85 gram of gold or more for a year without ever reduced from it.
Zakat of gold, silver, and money isn’t compulsory until some requirements regarding it are fulfilled, namely:
The owner is a muslim.
The owner is a free man, not a slave.
The gold, silver, and money are entirely owned.
Its amount has reached the nishab of zakat.
Its amount isn’t diminish for a full one year period.
The Messenger of Allah – peace and prayer of Allah be upon him- said,
لَيْسَ فِي أَقَلَّ مِنْ عِشْرِينَ مِثْقَالاَ مِنَ الذَّهَبِ، وَلاَ فِي أَقَلَّ مِنْ مِائَتَيْ دِرْهَمٍ صَدَقَةٌ
“There’s no zakat for gold which amount is below 20 mitsqal and silver below 200 dirhams.” (Narrated by Abu Ubaid in “Al Amwal” page 50, no. 1113. Classed as valid by Sheikh Al Albani in Irwa-ul-ghalil, no. 815)
According to Mu’jam Lughah Al-Fuqaha’, 1 mitsqal equals 4.24 gram; thus, 20 mitsqal is 4,24 gram x 20 = 84,8 gram.
Our government has defined the nishab for gold for zakat is about 85 gram of pure gold. This is also the opinion of Sheikh Muhammad Ibn Shalih Al Uthaymeen, and this is our stance. And Allah knows best.
If a person has gold weighing about 85 gram or more, he is not obliged to pay for zakat until he has that 85 gram of gold or more for a year without ever reduced from it.
Answered by
0
Answer:
The method for calculating the zakat on gold in Indian rupees is also stated below the question.
Explanation:
This is accomplished by contributing 2.5 percent of the weight of the jewelry's market value as Zakat. For instance, if someone has 10 grammes of gold jewellery, they must pay the market value of 0.25 grammes (or 2.5 percent of 10 grammes) of gold in salt. Let's say your zakat assets reach Rs 2 lakhs for 50,000. Zakat Net Worth is then Rs. 2 lakh. Rs. the entire year.
The zakat obligations total Rs. 50,000 equals Rs. 1.5 lakhs. You are exempt from paying Zakat for this year if Nisaab has a net worth of Zakat.
#SPJ2
Similar questions