Zakat Calculation
    

What is Zakat

Zakat is an obligatory duty and one of the five pillars of Islam. It is mandatory when two conditions are simultaneously satisfied: 

Nisab and Due Date.
Nisab: It is 3 oz of pure Gold. 
Due Date: Zakat is due after one Lunar (Hijri) year starting from either the first day you acquired the amount of Nisab or the day you paid Zakat last year
I urge you dear brother/sister to calculate your Zakat now and to pay it as soon as possible
In order to calculate your zakat, please fill all of the fields. If the amount is -0-, please put 0
 
1.Cash on hand and in bank accounts (saving, checking, etc.)

2. Refundable deposits (e.g. on rented apartment)

3. Non-delinquent loans (money you loaned to others)
4. Expected Tax refund      
5. Gold and its certificate      
6. Shares, stocks, bonds, IRA, pension plans, options, etc.
7. Business cash on hand and in banks plus invoices due.
8. Business inventory.    
9. Net income you are entitled to as of Zakat due date.

10. Total amount subject to Zakat (lines 1 through 9).
11. Zakat amount : If the amount is 0, then no Zakat is due.


 

1-Women jewelry is not subject to Zakat unless its amount is excessive or if not used.
2- Pay business Zakat if inventory value is larger than Nisab

This form does not cover all Zakatable items, for clarification or more information please contact your local Imam or Islamic Center. Also, this form is based on respected Fiqh references.

 

Please check online Zakat Calculator for detail info about Zakat.