Zakah calculations

Mu' meneen Brothers and Sisters,

As Salaam Aleikum wa Rahmatullahi wa Barakatuh. (May Allah's Peace, Mercy and Blessings be upon all of you)

One of our brothers/sisters has asked this question:

As Salaam Aleikum wa Rahmatullahi wa Barakatuh

 

My question is regarding Zakat.

 

I have taken credit for my wedding and I am repaying the amount till date. Am I eligible to pay Zakat, because I have cleared only 50% of the amount and 50% is balance. Please reply because Ramadan starts in August and I have to arrange if I am eligible for Zakat. Also, please forward in details the procedure of Zakat payment. Jewelry given to girl after engagement and during wedding time. How to calculate, Terms & Conditions & etc… if any.

 

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Answer:

Zakah Calculations

In the name of Allah, We praise Him, seek His help and ask for His forgiveness. Whoever Allah guides none can misguide, and whoever He allows to fall astray, none can guide them aright. We bear witness that there is none worthy of worship but Allah Alone, and we bear witness that Muhammad (saws) is His slave-servant and the seal of His Messengers.

If the total net worth of any believer (man, woman, or child) is more than the prescribed ‘nisaab’ of 7.5 ‘tolas’ of gold (app. 85 grams or app. Value US$2,500.00), then the person is liable to pay the obligatory annual ‘zakah’ of 2.5% on their excess wealth which has been in their possession for a full calendar year.

If the total net worth of any believer is less than the prescribed ‘nisaab’, he/she is not liable to pay any ‘zakah’ until their net worth exceeds the prescribed ‘nisaab’.

For the purpose of determining ‘zakah’, the ‘Net Excess Assets’ would be the current market value of all of one’s assets (properties, investments, jewelry, cash, etc.) except:

1. the value of the house/s one owns and actually lives in (no zakah)
2. the value of the car/vehicle one uses on a regular basis (no zakah)
3. the value of the furniture and fixtures one uses on a regular basis (no zakah)

Your Question: …I have taken credit for my wedding and I am repaying the amount till date. Am I eligible to pay Zakat, because I have cleared only 50% of the amount and 50% is balance.

The one who takes a loan is not liable to pay zakah, for that wealth does not lawfully belong to him/her. It is one to whom the loan is due is the lawful owner of that wealth, and it is he/she who is liable to pay its annual zakah.

Your Question: ….Jewelry given to girl after engagement and during wedding time.

The primary responsibility of paying the zakah lies on the person who actually owns the wealth, thus in this case if you (or anyone else) has gifted jewelry to the girl, it is the girl who will be responsible for making sure that the zakah for her jewelry is paid every year.

But if the husband, or father, or brother, or son of the believing woman, of their own will, wish to fulfill the zakah for her, there is absolutely no harm.

Regardless of whether the woman herself pays the zakah for the jewelry/wealth she owns, or whether her father, or husband, or son, or guardian chooses to pay the zakah for the wealth owned by her…..provided the annual zakah dues are paid on her excess wealth, the woman would have deemed to have fulfilled her obligatory duty of zakah unto her Lord Most High.

Whatever written of Truth and benefit is only due to Allah’s Assistance and Guidance, and whatever of error is of me alone. Allah Alone Knows Best and He is the Only Source of Strength.

Your brother and well wisher in Islam,

Burhan