I wantd To ask abt paying zakat this Ramadan. Say I have Rs 1lac in my account for less than a year.. Do I have to pay zakat for it? And if I already had Rs 1lac in my account last year for which I already paid zakat in the month of Ramadan last year. Now this year one more lac got added to it but this lac was with me for less than a yr. do I have to pay zakat for 2lacs
Jun 30th, 2016
Zakat is due on any savings that finishes one year in your possession.
It is best to designate a specific date every Hijra year and in that
day, calculate whatever savings you have and give zakat on it
regardless when it came into your possession.