Zakah on income : Zakah on gold and jewelry and on salaries

Fatawa Question

Assalamoalaikum, I was wondering if you can help me with my Zakaah calculations : (1) I have 32gms of gold saved up which amounts to 41,600 in Pakistani rupees. (2) I also have 46000 rupees of cash saved up from last year. (3) I also have a jewellery set which is not completely gold but has little amount of gold in it, I don’t think that that value of gold is significant in any terms. (4) I have read that Zakah is not due unless you have 85gms of gold saved up or 595gms of silver. If I add the monetary value of the gold that I have plus the cash saved up from last year it equals 87600 in Pakistani rupees and if I add the estimated value of the gold in the set the total would be no more than 95000 in Pakistani rupees which is again less than the amount of 85 gms of gold that is the Nisab level of everything totaled. (5) I want to know if I should pay Zakah on this if I am not mistaken about the 85gms of gold thing. And if I should, it would be 2.5 % of the total (i.e. gold + cash) or should I pay separately (i.e. 2.5 % Zakah on gold and separate 2.5 % Zakah on the cash). (6) And one last thing I found this question / answer on a website can you please clarify it and give Fatwa based on it all.

Fatwa

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Publication Date

2007-09-28

Main Subjects

Economics & Business Administration
Islamic Studies

No. of Pages

2

Data Type

Fatawa

Language

English

Record ID

BIM-785930

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