Islamic foundation zakat calculator

Offering zakat is a religious obligation for Muslims, and is the third of the five pillars of Islam right after prayer. In Arabic, zakat means purification, growth and blessing. Bdesh foundation collects and distributes zakat to those who are most in need, in accordance with Islamic guidelines. Most scholars agree that the poor and needy are the most important categories of people to receive zakat.

Given that, it is acceptable to give your entire zakat allotment to individuals who are in those groups. Bdesh foundation USA consults with a council of imams who follow the Fiqh Council of North America for information about religious donations. It is advised that you consult with your local imam or scholar for more detailed inquiries.

Zakat is payable at 2. Nisab, which is equal to 3 ounces of gold, is the minimum amount of wealth one must have before they are liable to pay zakat. Zakat is liable on gold, silver, cash, savings, investments, rent income, business merchandise and profits, shares, securities and bonds. Zakat is not paid on wealth used for debt repayment of living expenses such as clothing, food, housing, transportation, education, etc. Home zakat. What is zakat?

islamic foundation zakat calculator

Who is eligible for zakat? The poor 2.

Introducing Zakat Live

The needy 3. The collectors of zakat Bdesh foundation USA is an example 4. Those who hearts are to be won over 5. Captives 6. Debtors 7. A mediator or someone who pays from personal monies to fix or mediate problems among the people 8. In the cause of Allah swt 9. Travelers Most scholars agree that the poor and needy are the most important categories of people to receive zakat.

Zakat on gold Zakat is payable at 2. Assets and Liabilities Value in U. Cash at Home. Balance Held in Bank Accounts.At Muslim Aid, we think paying your Zakat should be as easy as possible, which is why we have created a handy calculator for your ease and convenience. Use our UK calculator below to determine how much Zakat to pay this lunar year.

Pay your Zakat. Giving Zakat is obligatory for all eligible Muslims and is based on the current nisab values. These can vary year to year, which makes knowing how much to pay quite difficult. To simplify the rules around paying zakat, use the nisab values for below then enter your personal values into the calculator to determine your zakat contribution. If you want a comprehensive guide on Zakat, click here for more information.

Meaning purification, Zakat is the act of giving a set percentage of your total wealth to charity each lunar year and is required of every sane, adult Muslim whose accumulated wealth exceeds the current Zakat nisab value. Zakat is so much more than just giving to those in need; paying Zakat is an act of worship. At Muslim Aid, we understand this wholeheartedly, which is why we strive to ensure that your Zakat payment reaches the most vulnerable and needy communities in the world, quickly and effectively.

Download Zakat Calculator Excel Worksheet

Considering all the different items and details that must be kept in mind when calculating Zakat, understanding the Zakat nisab value, when to pay Zakat and who we can give it to, the whole process can be complicated.

We are here to help, though; we have put together a brief guide around how to calculate Zakat, including the correct Zakat percentage of your wealth to be paid, and whether any Zakat tax is applicable in the UK. Firstly - what is the nisab threshold?

The Zakat nisab value is the minimum threshold required for an individual to be eligible to pay Zakat in that specific lunar year. Your total overall wealth must meet or exceed the nisab value in order for you to be eligible to pay Zakat.

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What is the Nisab value? The most up to date nisab for gold and silver can be found at the top of the page. The nisab value is directly related to the current values of gold and silver.

islamic foundation zakat calculator

Originally, these values of silver and gold were equal but in the current day, they have become different, with the silver nisab being significantly lower than its gold counterpart. You can calculate the nisab value at any given time by converting these weights into your local currency. Your Zakat donation should amount to 2. You can use our Zakat calculator for gold, silver, cash and other assets to determine your overall wealth, and subsequently work out how much Zakat you need to pay.

Please note that any debts you currently have outstanding, including any form of a loan, are ineligible for Zakat so they must be deducted from the overall total. In the UK, tax can impact Zakat in a variety of different ways but there are Zakat rules to help guide you should you have any queries.Author: Farhath.

islamic foundation zakat calculator

Zakat or Zakah is an alms-tax or obligatory tax to be paid by Muslims to the poor and needy. It is the third pillar out of the five pillars of Islam. The Quran mentions Zakat many times along with Salat prayer to emphasize the importance of Zakat. Every Muslim who possesses a Zakat payable amount Nisab for one lunar year has to pay 2. If you are finding it difficult to know how to calculate the Zakat amount, you can do it easily with the following Zakat Worksheet File.

Just enter your asset values under each heads and the Zakat payable amount will be calculated right away! Make sure you read Summary sheet for further information. Download Link: OneDrive. Establish prayer, and pay alms-tax. Surely Allah is All-Seeing of what you do. Quran Islam is based on the following five principles : 1. To offer the compulsory congregational prayers dutifully and perfectly. To pay Zakat i.

To perform Hajj. Pilgrimage to Mecca 5. To observe fast during the month of Ramadan. Sahih al-Bukhari. Literally Zakat means blessing, purification, increase and goodness. It is so called as it blesses the wealth from which it is taken and protects it from misfortunes. Paying zakat to the penniless serves the reason for filtering our fortune and assisting the downtrodden.

I think zakat calculator is very very useful application. Where everyone can calculate the accurate zakat. Islamic Downloads. Download Zakat Calculator Excel Worksheet. Author: Farhath Zakat or Zakah is an alms-tax or obligatory tax to be paid by Muslims to the poor and needy.

islamic foundation zakat calculator

Download Zakat Calculator. Calculator created by Arif Jameel. Related Posts. Paying Zakat June 26, Anonymous July 18, Pay your zakat for Allah, instead of paying the pool money to devil.

Bashir Yusuf August 31, Leave a Reply Cancel Reply.Necessary cookies are absolutely essential for the website to function properly.

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It is mandatory to procure user consent prior to running these cookies on your website. Zakat Calculator. Other Savings. Money owed to you. Short Term Liabilities. Other Outgoings Due. Net Assets. Nisab Threshold:.

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SinceHidaya Foundation has been serving the poor and in need around the world through social welfare, educational, health care, self employment, and environmental projects. Hidaya has launched a support effort to help over 1 million people affected by the Coronavirus Crisis in several countries, by providing food, soap, medical equipments and more.

Zakat (Obligatory Charity)

This year Hidaya began distributing various fruit and nut trees in Pakistan for benefit of families in need as part of our One Million Trees Project. Different types of trees distributed so far include: persimmon, apricot, cherry, fig, peach, plum, pomegranate, loquat, lemon, guava, walnut, and almond. Rabbits are an excellent source for meat, fur for making clothing and other materials, their waste is used as excellent fertilizer, and they are very cuddly and lovable for children to play with.

Most importantly they reproduce extremely fast and can bring great profit for families, in shaa Allah. InHidaya Foundation received 22 donated vehicles to benefit local community members in the San Francisco Bay Area. Help us with costs of fixing up and preparing vehicles for struggling families and individuals!

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Hidaya Foundation has been providing aid to the Rohingya Refugees since the early days of their migration. All About Zakat. Zakat Calculator. Donate Zakat. In-Kind Donation. Orphans Support. Find out more. Donate Now. One Million Trees.

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How to Calculate Zakat

Latest News. Coronavirus Crisis Relief Hidaya has launched a support effort to help over 1 million people affected by the Coronavirus Crisis in several countries, by providing food, soap, medical equipments and more. Animal Farming - Introducing Rabbit Farming!

Rohingya Refugee Support Hidaya Foundation has been providing aid to the Rohingya Refugees since the early days of their migration. Pin It on Pinterest.The Calculations above are as based on 2. For more information visit www. Made available by Hidaya Foundation. Zakat Obligatory Charity Assist families in extreme poverty. Zakat Calculator.

Total Gold value without jewels. Total Silver value without jewels. Cash on hand. Checking Account. Savings Account. Business Bank Account s. Stocks and Mutual Funds. Business Merchandise Inventory. Real Estate excluding personal residence.

Accounts Receivable. Less deductible liabilities only. The Zakat you owe as shown in the box above is based on the nisab of Silver value. Please verify the nisab value on the day you calculate your zakat. For more information click here. And establish prayer and give zakah and bow with those who bow [in worship and obedience] And establish prayer and give zakah, and whatever good you put forward for yourselves — you will find it with Allah.

Indeed, Allah of what you do, is Seeing They ask you, [O Muhammad], what they should spend. And whatever you do of good — indeed, Allah is Knowing of it. Pin It on Pinterest.All information on IslamicFinder. It is payable on assets owned over one lunar year. It is calculated as 2. The collected amount is paid first to zakat collectors, and then to poor Muslims, to new converts to Islam, to Islamic clergy, and others. To start calculating your zakat this year, click on the button below.

IslamicFinder Online Zakat Calculator provides you a step by step method to calculate Zakat on your assets. Step 1: Enter the Value of Nisab in your local currency. According to Sharia Law, Nisab is the minimum amount a person possesses for over a year in order to be obliged to pay Zakah. You can calculate nisab in terms of either Gold or Silver value. For Silver, the standard nisab is 21 ounces of silver For Gold, the standard nisab is 3 ounces of gold Note: check the value of gold and silver in your local currency.

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Step 2: In the next step, add the quantity of Gold and silver that you have possessed for more then a year and its price per 10 gram in your local currency. Each type in Carats of Gold you possess must be added separately as their values are different. Step 3: In this step, add the values of Cash, Properties and stocks in your possession for more then a year as Zakat is applicable on them as well. Step 4: In this final step, you need to add your debts and liabilities, the payments that are due on you and debts that you have to give.

Step 5: After completion of the steps above, a summary appears which tells you whether you are eligible to pay Zakat and, if you are, the zakat that you have to pay appears. The payable zakat is 2. You will also have the option to print this summary to keep a record of paid Zakat every year. The word Fitr means the same as Iftar, breaking a fast and it comes from the same root word as Futoor which means breakfast. Thus, Islamically, Zakah al-Fitr is the name given to charity which is distributed near the end of Ramadan.

The amount of Zakah is the same for everyone regardless of their different income brackets. If you continue using our website, then you have agreed to our Terms of Use and Privacy Policy. Search for a City or Zip to set your location.

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Disclaimer All information on IslamicFinder. Zakat Calculator Home Zakat Calculator. Base Nisab on value of. Gold Silver. This field is required for nisab calculation. Value entered is invalid for nisab calculation. In Hands. In Bank Account. In Business. Properties For Business Only.