Zakat

format_quote Originally Posted by Tanya Khan

Ramazan Mubarak to everyone.

Someone please tell me how much zakat I have to pay if my annual salary is around £25,300? How do I work it out? I'm not very good at maths. Can someone please please please help me work it out and let me know?

Do I have to give Zakat during or at the end of ramazan?

Thank you very much in advance.

Zakat is 2.5% of your annual income.

So, if your annual income: £25,300

1 per cent: 253

Therefore:
2 percent: 506 (253 * 2)
0.5 percent: 126.5 (253/2)

Total: £632.50 (506 + 126.5)

format_quote Originally Posted by Tanya Khan

Thank you.

Sorry I just want to confirm the answer. So the above means I should pay £632.50 is that right?

Yep.

What if I haven't got much savings and can't afford it?

Well, are your living expenses that high? If so, give what you can.

^ dont worry too much sis pay it when you can inshaAllaah

format_quote Originally Posted by Tanya Khan

I only got this job in Jan/ Feb and before that I didn't have much savings. I am 29 yrs old and I have only saved £2500 in my whole life. That is what I have at the moment. Do you think I should still give the full amount or can I maybe give £200 as that is what i can probably affird to give?

Your annual income for this year isn't going to be 23,500 then . If my understanding of your situation is correct, you'd only need to pay £62.50 (2.5% of £2500 --- the money that is actually in your account!) this year - anything more you give is extra. Note; this is based on a strict interpretation of the ruling (in that savings count as income).

I'd strongly advise going to an Imaam and consulting with them about the matter, since I am probably mistaken about counting savings as income.

format_quote Originally Posted by Tanya Khan

OMG I don't know what I'll say I've never spoken to an Imam before :X
Can i just give what i can this year and start properly next year?

Ok, so let me get this straight. Altogether for this month I can give £62.50 is that right? And of course anything else as extra which I normally do. I'm so embarrassed to say this, but I have never given zakat before.

I'm making an extra effort from now on.

Just ask your imaam how much you will need to give zakat. I don't know all the exceptions to zakat so don't even know if it would be considered an obligation on you (since I've always been of the understanding that zakat is based on income --- in your case, you have savings - not income), so please consult an imaam on this occasion.

format_quote Originally Posted by Tanya Khan

Ramazan Mubarak to everyone.

Someone please tell me how much zakat I have to pay if my annual salary is around £25,300? How do I work it out? I'm not very good at maths. Can someone please please please help me work it out and let me know?

Do I have to give Zakat during or at the end of ramazan?

Thank you very much in advance.

No zakah until you fulfill 2 conditions :

1- your money reachs the nisab : The value of the nisaab [the amount that determines whether zakaah is obligatory; anyone who has more than this is obliged to pay zakaah]. the nisab now is equivalent to 595 grams of silver

2-one year has to passe since you acquired the nisaab, because of the report narrated by Ibn Majaah (1792) from ‘Aa’ishah (may Allaah be pleased with her) who said: I heard the Messenger of Allaah (peace and blessings of Allaah be upon him) say: “There is no zakaah on wealth until one year has passed.” Classed as saheeh by al-Albaani in Irwa’ al-Ghaleel (no. 787).

so sister! what you need to do is to calculate the price of 595 grams of silver in your country where you live , then if your money exceeds this nisab then start to count a year , when the year pass then you should give zakat of value 2.5% , you can calculate it on the calculator by : 0.025 x your money

try searching www.google.com for Zakar Calculator.

Also it is approximately equal to 85 Grams of gold

format_quote Originally Posted by Tanya Khan

I found that and the only thing I had to get the calculation on was the amount I have in my savings account. I'm so confused even more now :enough!:

Actually,

As far as I know,

Zakat is due on extra monetary [money or near money] value items we have in our possession for a period of one year or more. Most people chose 1st of Ramdan for calculating time period. It can be in any form, mostly in saving accounts but not necessarily.

Also, EXTRA means amount more than 85 grams of pure gold [here in Pakistan we say it 7.5 Tolas of gold]

I am searching reference for above in Quran, I will revert back if I found.

Allah Knows Best

Uhhhhhhh, please do forgive my gnorance in advance. But I was always thought that zakat was given from the money or jewelry that are in the bank or that we keep aside. I've never heard that zakat was given out of annual income. For instance, I make 60.000$ a year. All this money goes on different charges of life and I can't spare any of it. I won't have to give zakat from this amount. Do you understand my view point? Don't think that i don't want to give zakat but it's the first time I heard that we calculate it out of annual income. I'm really puzzled now. I thought, we give zakat from money or gold that was spared for a whole year "Hawl". Please enlighten me

format_quote Originally Posted by bewildred

Uhhhhhhh, please do forgive my gnorance in advance. But I was always thought that zakat was given from the money or jewelry that are in the bank or that we keep aside. I've never heard that zakat was given out of annual income. For instance, I make 60.000$ a year. All this money goes on different charges of life and I can't spare any of it. I won't have to give zakat from this amount. Do you understand my view point? Don't think that i don't want to give zakat but it's the first time I heard that we calculate it out of annual income. I'm really puzzled now. I thought, we give zakat from money or gold that was spared for a whole year "Hawl". Please enlighten me

Yes, you are right. Zakat is applicable only on extra sum of money a person have. Zakat is not applicable on monthly or annual income even if it is thousands or millions. it is only on the money which is not in use.

Above is best of my knowledge and understanding.

Allah Knows Best...