The Majlis Archive

Category

Zakaat

433 answers.

Is Zakaat paid on income?

Zakaat is not paid on income. Zakaat is paid on Zakaat assets which one possesses after 12 months – each year. Zakaat assets are cash, gold, silver and stock-in-trade. If at the…

The Majlis Vol 20 No 12, p.4

My wife has gold equal to the Zakaat Nisaab.

Yes, your wife must pay Zakaat on her cash even if it is less than the Nisaab value. Since she has the Nisaab in gold, Zakaat becomes payable on all her Zakaat assets irrespective…

The Majlis Vol 21 No 01, p.3

How should Zakaat be calculated on earnings?

Zakaat is not paid on earnings. Zakaat is paid on Zakaat assets on the day when your Zakaat year ends. Zakaat assets are cash on hand, bank savings, gold, silver and…

The Majlis Vol 21 No 01, p.3

A man opened a savings account for his aunt.

Since the aunt has no access to the money, in terms of the Shariah she is not the owner. She becomes the owner of only that portion which is given into her physical possession. The…

The Majlis Vol 21 No 01, p.5

Is Zakaat payable on the savings of a minor?

Buloogh (being an adult in terms of the Shariah) is a condition for the Wujoob of Zakaat. Zakaat is not Waajib on the wealth of one who is not baaligh.

The Majlis Vol 21 No 01, p.5

Do I pay Zakaat on my Takafol insurance?

Takafol insurance is just as haraam as conventional insurance. There is no Zakaat payable on insurance. Once you make the payment, the money no longer belongs to you. It becomes…

The Majlis Vol 21 No 01, p.5