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| Skillganon Status: Offline Posts: 2,497 Reputation: 3280 Rep Power: 23 Join Date: Apr 2006 Location: London Gender: Way of Life: Muslim | Asslamu alaikum.
__________________Here is an extract from Islam-qa.com Paying zakat on total wealth not just the amount greater than nisaab Question: Should the Zakat be paid from the WHOLE money you have (if more than elnisab) or from the amount you have beyond elnisab (the remains from subtracting the nisab from the whole money) ? Answer: Al-hamdu lillah (all praise be to Allah). Al-Khiraqi (rahimahullah) said: "If it (nisaab al-zakaat) is reached then a quarter of 1/10 is due upon it and upon whatever exceeds it, no matter how small." Ibn Qadama (rahimahullah) in explaining this statement said: "Meaning that if the amount of silver has reached 200 (which is the nisaab of silver in dirhams as has been discussed in question # 64) and the dinars 20 (which is the nisaab for gold in the units of mathaqeel [ see also question #64]) then one is obligated to pay zakaat upon it one quarter of 10 percent, as this has been established by his (the Prophet's , peace be upon him) saying 'for silver, one fourth of one tenth' " (Al-Mughni ma'a al-sharh il-kabeer, 2/600) As for the meaning of the rest of the statement that what exceeds the nisaab no matter how small, it means that 1/4 of 1/10 (i.e. 2.5%) is also due upon this surplus difference. Thus, the overall meaning is that if monetary wealth surpasses the amount of nisaab, then zakaat is due upon it all, and not upon the surplus only, nor upon the amount of nisaab only, but on the total. Note that zakaat must be paid on the excess amount over nisaab, regardless of how small. This is the opinion taken by Malik and al-Shaafi'i and jumhoor al-ulemaa'. (see the source quoted above) Link: http://www.islam-qa.com/index.php?re...=eng&txt=zakat Also Check: 1. http://www.islam-qa.com/index.php?pg...glist=0&ln=eng |
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| Skillganon Status: Offline Posts: 2,497 Reputation: 3280 Rep Power: 23 Join Date: Apr 2006 Location: London Gender: Way of Life: Muslim | Question:
__________________I live in the united states. How much is Nesab el-Zakat in US dollars? Answer: Nisaab ul-Zakat for naqd (gold and silver) is defined as the minimum amount of naqd specified by shari’a below which one is not required to pay zakat, whereas if one’s wealth exceeds it then zakat becomes incumbent. And it is known that zakat ul-maal (wealth) in shari’a is required for the two types of naqd—gold and silver—and what serves their function in modern times (commonly referred to as cash), whether it is dollars or riyals or pounds or otherwise. Nisaab for gold as our Prophet (peace be upon him) has informed us (and for currencies made from gold) is 20 mithqaalan, a measure which is equivalent to 85 grams of pure gold (1 mithqaal = 4.25 grams). It becomes incumbent upon anyone who owns such an amount in any form to pay zakat on it in the amount of 2.5%. Nisaab for silver and currencies made from silver is 200 dirhams, which is equivalent to 595 grams of pure silver (1 dirham = 2.975 grams). Likewise, it becomes incumbent upon anyone who owns such an amount in any form to pay zakat on it in the amount of 2.5%. It is well known that there is a noticeable disparity between the value of nisaab for gold and that of silver in our times. The best and most conservative for a poor person is to assess how many dollars he has that have been in his possession for a complete lunar year (Hijri, which is 354 days). If the amount reaches the value of nisaab for silver or more, then he should pay from it for every 1000 dollars, 25 dollars (i.e., 2.5%) to be spent in the prescribed benficiaries as specified by shari’ah, and we ask Allah to aid us and help us succeed in haqq il-maal wa salla allahu ala nabiyyana muha Note you can find the current price of gold and silver via the internet, such as on the following page: http://www.tradeshop.com/cgi-bin/cgi.../aipm/gold.cgi ref: http://www.islam-qa.com/index.php?re...=eng&txt=zakat |
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