Question Summary:
I am a salaried person, how will I calculate the total amount of money at the end of the year because of eg. if I get some money in the eleventh month or even 6th month it is difficult to keep track monthly Question Detail:
As it is mentioned that Zakat is compulsory if you have wealth by you for one islamic year. In this situation as I am a salaried person, how will I calculate the total amount of money at the end of the year because of eg. if I get some money in the eleventh month or even 6th month it is difficult to keep track monthly, so what is the solution in this regard.
Answer :
In the name of Allah, Most Gracious, Most Merciful
Assalaamu `alaykum waRahmatullahi Wabarakatoh
Your Zakaat year will commence as soon as you have the minimum Nisaab of Zakaat. For example let us assume that the minimum Nisaab is $500. On the 1st of Rajab 1428 you become the owner of $500 therefore your Zakaat year would commence on the 1st of Rajab 1428 and end on the 1st Rajab 1429.
What would then happen is on the 1st Rajab 1429 you will calculate your total assets, deduct your liabilities and give 2.5 % of that difference in Zakaat (if the amount exceeds the Nisaab). If after deducting the liabilities the total assests are lesser than Nisaab, Zakaat will not be necessary. There is no need to calculate the amounts every month.
And Allah knows best
Wassalam
Muhammed Zakariyya Desai,
Checked and Approved by:
Mufti Emraan Vawda
Darul Iftaa, Madrassah In'aamiyyah
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