Zakat is an obligatory act of worship which is one of the five pillars of Islam। It is an obligatory economic worship imposed on Muslims, which has to be paid when certain conditions are met। There are certain conditions for Zakat to be obligatory, which are described below -
Conditions for Zakat to be obligatory
being a muslim
• Zakat is obligatory on Muslims only। Zakat is not obligatory on a non-Muslim।
to be independent
• A person must be independent for Zakat to be obligatory। Zakat is not obligatory on slaves।
to grow old
• A person must be an adult (baleg) for Zakat to be obligatory। Zakat is not obligatory on minors, although zakat on their wealth can be paid by their guardians।
to be
• For zakat to be obligatory the person must be conscious (aqeel).। Zakat is not obligatory on a mentally ill person।
Owning nisab amount of wealth
• For Zakat to be obligatory the person must own Nisab amount of wealth। Nisab is the minimum amount of wealth required for Zakat to become obligatory। At present, the value of Nisab is 85 grams of gold or 595 grams of silver or its equivalent।
Hawlanul Hawol (Completion of one year)
• Nisab amount of assets must be owned for one full Hijri year (Hawl) for Zakat to be obligatory.। If the wealth does not reach the Nisab amount before the completion of the year, then Zakat is not obligatory।
Zakat rate
• The rate of Zakat is 2.৫%। That is, if the Nisab amount of wealth lasts for one year then 2 on it.5% Zakat to be paid।
Quran document
إِنَّ الَّذِينَ آمَنُوا وَعَمِلُوا الصَّالِحَاتِ وَأَقَامُوا الصَّلَاةَ وَآتَوُا الزَّكَاةَ لَهُمْ أَجْرُهُمْ عِندَ رَبِّهِمْ وَلَا خَوْفٌ عَلَيْهِمْ وَلَا هُمْ يَحْزَنُونَ
Pronunciation:
Innallazina amanu wa amilus salihati wa akamus salata wa atawz zakata lahum azruhum inda rabbihim wala khaofoon alaihim wala hum yahjnoon।
Meaning:
Verily, those who believe and do righteous deeds, establish prayer and pay zakat, have a reward with their Lord.। They have no fear and will not be sad।
[Surat al-Baqarah, verse 277]
Document of hadith
Rasulullah (s.a.w.).) said –
بُنِيَ الإِسْلاَمُ عَلَى خَمْسٍ: شَهَادَةِ أَنْ لاَ إِلَهَ إِلاَّ اللَّهُ وَأَنَّ مُحَمَّدًا رَسُولُ اللَّهِ، وَإِقَامِ الصَّلاَةِ، وَإِيتَاءِ الزَّكَاةِ، وَالْحَجِّ، وَصَوْمِ رَمَضَانَ
Pronunciation:
Bunyal Islamu Ala Khamsin: Shahadati Allah Ilaha Illallahu Wa Anna Muhammadan Rasulullah, Wa Iqamis Salaati, Wa Ita’iz Zakati, Wal Hajji, Wa Sawmi Ramadan।
Meaning:
Islam is founded on five foundations: testifying that there is no god but Allah and that Muhammad is the Messenger of Allah; establish prayer; Paying Zakat; Performing Hajj and fasting the month of Ramadan।
[Sahih Bukhari and Sahih Muslim]
Summary –
The conditions for Zakat to be obligatory are:
• Being a Muslim
• Being independent
• Becoming an adult
• Being aware
• Owning nisab amount of assets
• Completion of one year
If a person fulfills these conditions, Zakat is obligatory upon him and he is required to pay 2 of his wealth.5% Zakat to be paid। Zakat is an obligatory act of worship in Islam and is an important economic responsibility on Muslims।
There are certain rules for calculating Zakat that help a Muslim determine the amount of Zakat based on his wealth.। Below is the detailed method of measuring Zakat:
Rate of Zakat -
• যাকাতের হার হলো ২.৫%। That is, if the Nisab amount of wealth lasts for one year then 2 on it.5% Zakat to be paid।
Nisab amount of wealth for Zakat -
• Gold Nisab: 85 grams of gold or its equivalent.।
• Silver Nisab: 595 grams of silver or its equivalent.।
Steps to Calculate Zakat -
Valuation of total assets
Calculate your net worth, which will include:
• Cash (bank account, cash in hand etc.)
• সোনা ও রূপা
• Business Goods (if you run a business)
• Investments (shares, bonds etc.)
• Money due (if a person or organization owes money to you and expects you to collect it)
Subtracting Debts and Liabilities –
Subtract all debts and liabilities from your total assets that you will pay off:
• ব্যক্তিগত ঋণ
• ব্যবসায়িক ঋণ
Determination of amount of Nisab –
If your assets after deducting debts and liabilities reach the Nisab amount and one year is completed, then Zakat is obligatory on you.।
Determining the amount of Zakat -
If your wealth reaches the Nisab amount and completes one year, determine the amount of Zakat according to the rate of Zakat:
• যাকাতের হার: ২.৫%
• Amount of Zakat: (Total Assets - Debts & Liabilities) × 2.৫%
For example calculation of Zakat -
You have total assets of:
• নগদ অর্থ: ১০,০০,০০০ টাকা
Gold: 50 grams (worth Rs 60,000)
• ব্যবসার মালামাল: ৫,০০,০০০ টাকা
• বিনিয়োগ: ২,০০,০০০ টাকা
Total assets: 10,00,000 + 60,000 + 5,00,000 + 2,00,000 = Rs.17,60,000
Your debts and liabilities -
• ব্যক্তিগত ঋণ: ৩,০০,০০০ টাকা
• ব্যবসায়িক ঋণ: ২,০০,০০০ টাকা
Total Debt and Liabilities: 3,00,000 + 2,00,000 = 5,00,000 Tk
Net Assets: 17,60,000 - 5,00,000 = Rs.12,60,000
Amount of Zakat: 12,60,000 × 2.5% = Rs.31,500
Summary –
To calculate Zakat, Nisab amount must be determined by subtracting debts and liabilities from total assets। If the amount of wealth reaches the amount of Nisab and one year is completed, then according to the rate of Zakat 2.5% Zakat to be paid। Zakat is an obligatory act of worship in Islam and is an important economic responsibility on Muslims।