I started paying zakat last year, 2012. In it I paid $2,500 zakat on a $10,000 saving. This year, 2013, my savings have increased to $12,000.
Should I now pay zakat on $12,000 or only the net increase in savings i.e. $2,000?
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zakat is always for wealth "not used" within that past 12 months... in your case: 12000 is the base for zakat calculation... Allah knows best.– YahiaSep 30, 2013 at 11:54
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2If in 2012 you paid $2500, that works out at 25%. Zakaat is 2.5%– green4rrowOct 9, 2013 at 23:25
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1 Answer
Zakat is due on the entirety of your savings, so long as they have maintained at least the nisab for an entire year. So in your case — and this is according to the Hanafi madh'hab — you would owe zakat for the whole $12,000 (which at 2.5% works out to $300).
answered Sep 30, 2013 at 14:57
