Determining the amount of Zakat calculator to pay and how it should be paid can sometimes be difficult. This is why we have created this little guide where you will find the answers to the most frequently asked questions and some clarifications on received ideas, according to muslimhands and national zakat foundation. You can read this article on www.miskshops.com
How much is the Zakat? How do we determine zakat calculator?
Our beloved prophet Muhammed (saw) has set the value of Zakat calculator at 87.5 grams of gold or 612.4 grams of silver. Today, it is usually the equivalent value in the local currency. In the Hanafi mazhab, the value of money is key to determine the amount of the Nissab. In the other mazhabs, the value of gold is another key. The values of gold and silver change daily, so your Zakat payment will vary a little each year. You can use our Zakat calculator to determine the amount you have to pay for this year.
What goods should I take into account in my calculation, according to muslimhands?
Muslimhands is one of the most prominent communitarian association in the world. It helps muslims around the world with knowledge and even more. According to them, one must pay zakat on wealth rather than income. If we take the example of Adam (our fictional character) who earns € 20,000 per year and saves € 200 per year. Adam must calculate his Zakat based on his € 200 annual savings and not on his 20 € 000 of income.
The goods to consider for the calculation of Zakat include cash, gold and commercial actions. For a complete list of assets to take into account.
Another frequent question is whether valuables such as an apartment or a car should matter when calculating the Zakat. The answer to this question is no unless you intend to sell them and they are purchases for commercial purposes. In this case, Zakat will be due on these items if a lunar year passes from the time you intended to sell them.
How to calculate the amount of Zakat that I have to pay? | zakat calculator
We know that calculating your Zakat can be difficult if you don’t know how to do it. There are indeed many variables to take into account. This is why muslimshands, among others, have designed an easy-to-use Zakat calculator to help you calculate the amount you have to pay.
Can I pay for my Zakat over several months?
Yes, if it’s easier for you, you can spread your Zakat payments over the year. Calculate the amount of Zakat you have to pay for the year and divide it by twelve. Check your calculation at the end of the year. If you have underestimated the amount of Zakat you have to pay, be sure to pay the full amount before the start of the new year.
What is Zakat and why is it so important?
“And perform the Salat (prayer) and pay the Zakat (alms), and bow with those who bow.”[The Holy Quran 2:43]
Zakat is the third pillar of Islam. It is a compulsory alms representing 2.5% of the wealth of a Muslim over a year. Zakat is intended to purify our wealth to elevate us spiritually. It purifies our hearts against selfishness and guarantees the poor in society protection against hunger and poverty.
One of the misconceptions is that Zakat is a kind of tax. It is more than that: a spiritual obligation for which we will be accountable. Zakat plays a key role in helping the poorest people by providing them with food and helping them out of poverty.
Who should pay Zakat?
You must pay Zakat if, on the one hand, you are a healthy Muslim adult and on the other hand you have possessed the minimum amount of wealth (known as Nissab) for a whole year. There is a Zakat calculator.
The amount of the Nissab must have been in your possession for an entire lunar year for the Zakat to be compulsory on your wealth. Therefore, it must be paid when it is due. Your year of Zakat, therefore, begins on the date on which your wealth has equalled or exceeded the amount of Nissab for the first time. It will have to be calculated from this date for the following years. The national zakat foundation is explicitly clear on this.
Do I have to pay Zakat for the years when I haven’t paid for it? zakat calculator
Sometimes we forget to pay the Zakat or miscalculate it or even not know this pillar of Islam. However, it is never too late to pay Zakat for previous years. We calculate the Zakat of the previous years in the same way as the current Zakat. Therefore, you will, however, have to use the value of the Nissab of the missed years and not that of this year.
Where is my Zakat going?
Seven groups of people can receive Zakat: the poor, the needy, the indebted, defenders of the cause of Allah, recent converts to Islam, those who distribute Zakat, travellers and prisoners [The Holly Coran, 9: 60].
When you give your Zakat to Muslim Hands, you can be sure that it will help disadvantaged communities. It also fights poverty. Zakat can improve education, the environment, health, food security, etc.