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i havr to repay a loan from bank and hence i have done some saving,example 100,000 amongst which i have 40,000 saving.so am i liable to pay zakat from 40,000 and salary or only only from my salary/jwlry,etc?

i havr to repay a loan from bank and hence i have done some saving,example 100,000 amongst which i have 40,000 saving.so am i liable to pay zakat from 40,000 and salary or only only from my salary/jwlry,etc?

25 Mar

ANSWER:

You must give zakat on the gold which is above 85 grams of gold. You give 2.5% on any cash you have had in your possession for over one lunar year whether it is yours or it is a loan!

Zakat | March 25, 2018 8:06 am

i havr to repay a loan from bank and hence i have done some saving,example 100,000 amongst which i have 40,000 saving.so am i liable to pay zakat from 40,000 and salary or only only from my salary/jwlry,etc?

i havr to repay a loan from bank and hence i have done some saving,example 100,000 amongst which i have 40,000 saving.so am i liable to pay zakat from 40,000 and salary or only only from my salary/jwlry,etc?

I have two sons who are still small(not reached age of puberty). If I take few ornaments of gold from my Jewellery and put it aside in the locker for their future studies or marriage, and I don’t use it at all, then do I have to pay zakath for the same?

Am I obliged to tell the person to whom I’m paying zakat that it is zakat money?

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