I am having a query regarding Zakath.
Daruliftaa.Camperdown
Question
I am having a query regarding Zakath.
1) I am having an outstanding balance of 2 lakhs on credit card ,i have used
already and a car loan around 90,000 balance payable to the bank . I am
having a Cash savings of 3 Lakhs in hand.what would be my total zakath comes
to.
2) I bought a House last year by taking Home loan of 30 Lakhs ,now balance payable is 25 lakhs, I have got a gold of 700grms & cash in hand 3 lakhs
•My Zakath on gold will be 2.5% of market value,say(10 Lakhs),now zakath
becomes Rs.25,000 /-
•on 3 lakhs Cash it becomes Rs 7500/-
•now my home loan outstanding balance is 25 lakhs (2.5 % of it becomes)
(Rs. 62500) .
how much my zakath come to?
Do i need to pay saperately on Gold ,cash or ( GOLD + Cash - home loan) ,if i do in this way then zakath will be in minus.please advise.
3) I am having a cultivation land but this year it went into loss there is
no income,i need to pay Zakath on Land & Corp.
4) My Father had passed away this year,he was holding some outstanding balance
on credit cards,which infcat it was told by us to opt for a loan on credit
card,will that be a responsible on the heads of Sons to repay this amount, if
yes do we need to include that amount as well in zakath.
Answer
In the name of Allāh, Most Gracious, Most Merciful
Assalāmu ῾alaykum wa Rahmatullāhi Wabarakātuh
In principle, zakat becomes wajib for a person when he or she becomes the owner of net wealth which is equal or more than the Nisab of Zakat. This net wealth is calculated by taking ones Gross Zakatable Wealth that has been in ones possession for a whole lunear year and deducting liabilities and debts from it. The nisab for zakat is 20 Mithqals (87.479 g) for gold and 200 Dirhams (612.35 g) for silver. In the case of long-term loans , only a year’s payment will be considered as debt.
1. You will add your 2 lakhs on your credit card and one year’s payment on car loan. Now subtract these two amounts from 3 lakhs which is your cash in hand. If this amount is equal or more than Nisab of Zakat then 2.5% zakat will be calculated on this final amount.
2. You should pay zakat on (700gms of gold + 3 Lakhs – One year payment on your 25 lakhs Home Loan).
If the amount reaches the Nisab then you will calculate 2.5% of that figure and expiate that as Zakat. However if the amount is lesser than Nisab then no zakat will be liable on you.
3. There is no zakat on land itself. Zakat has to be paid on crops whether you made profit or loss. For more details on as to how zakat on crops will be discharged, please read the 3rd part of Bahashti Zewar.
(Fatawa Darul Uloom Deoband, Vol.6, Pg.57, Darul Isha’at)
In principle, the person who is discharging zakat from his wealth is liable to deduct his debt from the wealth. If you personally are responsible for that outstanding balance on the credit card then you may deduct it from your wealth. If your father was responsible for that debt, then it is the debt owed by the state. In such case, you may not deduct it from your zakatable assets.
And Allāh Ta῾āla Knows
Best
Wassalāmu ῾alaykum
Ml. Abdur Rahman Shareef,
Student Dārul Iftā
Checked and Approved by:
Mufti
Ebrahim Desai
Dārul Iftā, Madrasah In῾āmiyyah
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