Zakat calculator defines that how much zakat you have to pay for. In zakkat calculator you put current income property,animals,gold,land etc all amounts and it calculates the zakat applied on those things and tell you that how much zakat is imposed you.
All things belongs to Almighty Allah, and wealth is therefore held by human being in trust. The original meaning of the word 'Zakat' is both 'purification' and 'growth'. Giving zakat means 'giving a specified percentage on certain properties to certain classes of needy people.' The precentage due on gold, silver, and cash that have reached the amount of about 595 grams of silver and kept for one lunar year is 2.5%. Our possessions are purified by setting aside a small portion for those in need, and, like pruning of plants, this cutting back balances and encourages new growth.
1.Define your Zakat Cycle.
rent income property,animals,gold,land etc all amounts and it calculates the zakat applied on those things and tell you that how much zakat is imposed ti you.
As Zakat is an yearly economical responsibility, beginning and finishing schedules of your Zakat pattern shall be clearly described. If gold cost leaps great it can be that you drop below the nisab quantity and a new season starts when once again the nisab is reduced than that what you own. Hidjra season of about 255 times is much better Gregorian calender.
You have to select yourself if your nisab is determined on gold or gold base: A excellent concept is, that, if you reside in a "rich" nation, then gold cost gives you the platform of nisab computation (as you in your place are only "rich" in the feeling that you have to pay zakat with this much greater quantity on gold platform.) and if you reside in lesser places around the globe (where you are "rich" with the much less of nisab determined on gold base), than you should select the silver-nisab for your computation.
Update Your Financial Status.
Identify Your Zakat Assets
Identify Your Zakat Liabilities.
Calculate the Zakat Pool.
Zakat pool = Zakat assets (step 4) minus Zakat liabilities (step 5)
Compare to Nisab.
If the result of the Zakat pool exceeds Nisab limit then you have to dispose Zakat as shown in step 8.
Calculate Your Zakat Duty.
Zakat dues = Zakat pool (step 7) X 2.557% The result is your Zakat that you have to dispose.
Zakat ratio is 2.5% if the Zakat cycle is calculated using the Hagirae calendar while it is 2.557% if using the Gregorian calendar.
Tips
All things belongs to Almighty Allah, and wealth is therefore held by human being in trust. The original meaning of the word 'Zakat' is both 'purification' and 'growth'. Giving zakat means 'giving a specified percentage on certain properties to certain classes of needy people.' The precentage due on gold, silver, and cash that have reached the amount of about 595 grams of silver and kept for one lunar year is 2.5%. Our possessions are purified by setting aside a small portion for those in need, and, like pruning of plants, this cutting back balances and encourages new growth.
1.Define your Zakat Cycle.
rent income property,animals,gold,land etc all amounts and it calculates the zakat applied on those things and tell you that how much zakat is imposed ti you.
As Zakat is an yearly economical responsibility, beginning and finishing schedules of your Zakat pattern shall be clearly described. If gold cost leaps great it can be that you drop below the nisab quantity and a new season starts when once again the nisab is reduced than that what you own. Hidjra season of about 255 times is much better Gregorian calender.
You have to select yourself if your nisab is determined on gold or gold base: A excellent concept is, that, if you reside in a "rich" nation, then gold cost gives you the platform of nisab computation (as you in your place are only "rich" in the feeling that you have to pay zakat with this much greater quantity on gold platform.) and if you reside in lesser places around the globe (where you are "rich" with the much less of nisab determined on gold base), than you should select the silver-nisab for your computation.
- The starting date is set once your Zakat pool excedes Nisab limit
- The ending date (or effective date) is set as a year after the starting date.
- Example: if one gram of pure gold costs US$ 30, then the starting date is when your Zakat pool equals the Nisab (80 Gram X US$30 = US$ 2400) let’s assume it is 21-3-2010, then your ending date (effective date) is 20-3-2011
- rent income property,animals,gold,land etc all amounts and it calculates the zakat applied on those things and tell you that how much zakat is imposed you.
Update Your Financial Status.
- Prepare an modified details of your prosperity products cost as per the industry (actual) value on the efficient date
Identify Your Zakat Assets
- Zakat resources are what you actually own on the Zakat efficient time frame. You have to sum up all prosperity products you own. Some illustrations are:
- Cash: any kind of cash prepared cash, present records, preserving records, set remains as mentioned in your financial institution declaration.
- Securities: shares, shares, common finance models, ties and sukuk valuated at the ending cost in the currency markets.
- Your present consideration in a organization which you are a associate in
- Saving plans: the give up value of your preserving plans
- Gold investments: as per the industry value
- If there is any sum of cash which suggested to be obtained during the worried Zakat pattern but not yet occurred, then you have to add the predicted value to the Zakat resources.
- Your individual valuables such as a house or a car are not regarded as Zakat resources.
Identify Your Zakat Liabilities.
- Zakat liabilities are your financial obligations. Any obligation which you had satisfied during the concerned cycle requires no more consideration. Nevertheless, if there is any amount of money that was proposed to be paid during the concerned Zakat cycle but you did not do yet, then you have to add the expected value to your Zakat liabilities.
- If you had obtained a personal loan of any type (car, home, cash) then you have to consider the installments that you have to pay during the following Zakat cycle. You have nothing to do with entire outstanding debt.
- nd etc all amounts and it calculates the zakat applied on those things and tell you that how much zakat is imposed ti you.
Calculate the Zakat Pool.
Zakat pool = Zakat assets (step 4) minus Zakat liabilities (step 5)
Compare to Nisab.
If the result of the Zakat pool exceeds Nisab limit then you have to dispose Zakat as shown in step 8.
Calculate Your Zakat Duty.
Zakat dues = Zakat pool (step 7) X 2.557% The result is your Zakat that you have to dispose.
Zakat ratio is 2.5% if the Zakat cycle is calculated using the Hagirae calendar while it is 2.557% if using the Gregorian calendar.
Tips
- Your individual house and car are not regarded.
- The value of a car or a house that you lease out to others is also not regarded. However, the earnings produced by any economical commitment is regarded.
- Any earnings produced from non shariah certified resource, i.e. attention of ties, is not regarded. However, the value of any traditional economical responsibility is regarded.
- Your Zakat computation will not be impacted if you share goes below the Nisab restrict during the worried Zakat pattern provided that the share on the efficient time frame satisfies the specifications proven in phase 7.