Fatwa ID: 08949
Answered by Maulana Iqtidar Ahmed
Question:
Assalamualaikum W V,
I need help with calculating my Zakat. Could you please clarify:
* What assets are included (cash, gold, silver, property)?
* How do I account for debts and liabilities?
* How do I determine the Nisab value (gold or silver)?
* Are there any exemptions (dependents, personal property)?
For reference, we moved from India to the UK in 2023.
JazakAllah Khair.
In the name of Allah, the Most Gracious, the Most Merciful
Answer:
Thank you for your question, please note we will be answering this query generally and it is recommended to study it in detail in a class setting.
Relating to Zakat, the assets which are included are all mentioned, as long as they are wealth that which can grow. In addition to what was mentioned, animals, stocks, trade goods and investments would all also be included. Things which are necessary for your living are excluded such as furniture, personal car etc. Property is included if intended for sale but not if it is for personal use like to live in, or it is being rented out (in which case one will only give zakat on income received) [1].
Short term payments that will be made in the next 12 months may be deducted, and debts which are due to you that you are confident in should be considered part of your wealth unless you think the person would not pay you back [2].
The nisab for gold and silver is determined by looking at the current market price. The amounts are 20 mithqal and 200 dirhams respectively which is approximately 85g and 595g respectively [3].
There is no exception for dependents, and personal property is excluded as mentioned. The movement from country to country does not affect the Zakat due, it is due on the wealth wherever it is [4].
Only Allah ﷻ knows best.
Written by Maulana Iqtidar Ahmed
Checked and approved by Mufti Mohammed Tosir Miah
Darul Ifta Birmingham
References:
[1]
ولا في ثياب البدن المحتاج إليها… وأثاث المنزل ودور السكنى ونحوها… إذا لم تنو للتجارة
Ibn Abidin, Radd Al-Muhtar Ala Ad-Durr Al-Mukhtar, vol 2, p.265, Kitab Az-Zakah (Dar Al-Fikr).
[2]
الديون عند الإمام ثلاثة: قوي، ومتوسط، وضعيف؛ فتجب زكاتها إذا تم نصابا وحال الحول
Ibn Abidin, Radd Al-Muhtar Ala Ad-Durr Al-Mukhtar, vol 2, p.305, Kitab Az-Zakah (Dar Al-Fikr).
[3]
يجب في مائتي درهم وعشرين دينارا ربع العشر
Ibn Abidin, Radd Al-Muhtar Ala Ad-Durr Al-Mukhtar, vol 2, p.298, Kitab Az-Zakah (Dar Al-Fikr).
[4]
والمعتبر في الزكاة فقراء مكان المال
Ibn Abidin, Radd Al-Muhtar Ala Ad-Durr Al-Mukhtar, vol 2, p.356, Kitab Az-Zakah (Dar Al-Fikr).