Timeline for Calculation of zakat who has savings but no earnings
Current License: CC BY-SA 4.0
6 events
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| Oct 27, 2022 at 5:10 | history | edited | Tamour Ahmad | CC BY-SA 4.0 |
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| May 27, 2021 at 15:01 | comment | added | Jeschu | Through your information it would be possible to calculate the savings exempt from zakat according to the original rules using present stock market prices. We would then have to make an extra calculation for zakat. For ease, we use both income and wealth with the reductions according to the stately tax rules to calculate zakat. | |
| May 27, 2021 at 7:15 | comment | added | UmH♦ | @Jeschu Not sure what you are talking about. This answer mentions the Nisab, i.e. the minimum amount of stored wealth on which Zakat is due. If you are unfamiliar with these units of measurement then see this for metric ones. The amount of Zakat for such assets is always 2.5% of savings, it has no relation to income. | |
| Apr 27, 2021 at 6:29 | history | edited | Tamour Ahmad | CC BY-SA 4.0 |
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| Apr 26, 2021 at 18:54 | comment | added | Jeschu | As no one knows what the amounts mean we say in our community that, as a rule, we pay zakat according to our stately tax income. | |
| Apr 26, 2021 at 9:28 | history | answered | Tamour Ahmad | CC BY-SA 4.0 |