ANSWER: Of course, it does. Each and every individual is responsible for his / her own zakat! The threshold (nisab) of money is the value of 595 grams of silver. You try and set a date and on that day, you calculate how much you have and give 2.5% in zakat. Every lunar year, you […]
Read moreANSWER: You are not obliged to give zakat as you don’t have the nisab. Once you reach the nisab, this is when you start counting for a lunar year to give your zakat after one year.
Read moreANSWER: The lender must pay the zakat over his money which he had willingly given to someone else. The borrower must also pay zakat if the money is in his possession and a whole year passed on it.
Read moreANSWER: You are obliged to pay it yourself on time and are sinful if it gets delayed.
Read moreANSWER: You must give zakat on whatever cash you have in your possession now and all the gold, even the gold that you wear (if it reaches the nisab of 85 gms or more) and all the investments. The date of zakat doesn’t change just because you turned some of the cash into investments. You […]
Read moreANSWER: Of course she must pay the zakat of past 10 years as she’s the owner of that gold & its her responsibility and not anyone else’s.
Read moreANSWER: No problem, however it’s best to give it to the poor and needy Muslims where you live.
Read moreANSWER: Its not permissible to pay the zakat on instalments! You must pay it on the due date (hijri Islamic calendar), can take a couple of days extra but CANNOT delay it much further! Sell some of your gold to pay the zakat on time if you don’t have the cash
Read moreANSWER: She is about 8 months late on her zakat as every three Gregorian years there is about one month and a day or two difference with the lunar year. Therefore, if she pays her zakat about 8 or 9 months earlier form now on, she will be fine in sha Allah
Read moreANSWER: Yes, the current selling price.
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