Prayers & Duties >> Zakat & Charity

Question ID: 15413Country: India

Title: as-salamu-alaikum accuataly i want to know about zakat of lic. my anually deduction of lic is 10524, from 2003.last year iwas paid zakat of my lic balance from 2003i know that how calculated the zakat? the tatol balance of 2003 to till or the year of 2009. please guide about my problem.

Question: as-salamu-alaikum accuataly i want to know about zakat of lic. my anually deduction of lic is 10524, from 2003.last year iwas paid zakat of my lic balance from 2003i know that how calculated the zakat? the tatol balance of 2003 to till or the year of 2009. please guide about my problem.

Answer ID: 15413Posted on: Aug 31, 2020

Bismillah hir-Rahman nir-Rahim !

(Fatwa: 1411/1343=B/1430)

Calculate the total deposited amount every year and give its Zakah, which is 2.5% of total amount.

Allah (Subhana Wa Ta'ala) knows Best

Darul Ifta,

Darul Uloom Deoband, India

Related Questions

Q. Zakah 905 views
Q. Zakah on plots 2047 views
Q. Is zakat wajib on a student getting scholarship? 3471 views
Q. Zakat Calculation Amount and deducting debt 2198 views
Q. My mother-in-law is a widow and she is earning Rs.13,000 every month from her pension, her husband's half pension and also through rent.Whenever she has to pay zakat she will cry that she has to give so much and now she says some one has said to her that as now she is widow now she can ask her sons to pay zakat. Is it correct that her son can pay zakat? As she doesn't spend a single amount on her sons. 4558 views
Q. Zakah 965 views
Q. Giving zakah money to one's sister 1751 views
Q. My question is as: zakat is farz on the cost of property (I mean extra house,shops,land etc)or not. If the house is on rent then zakat will be due on rent and cost both. pl clarify. 2322 views
Q. "I have agricultural land inherited from my father, as my father used to take bribe I am not sure that by which amount he has purchased (More chances of bribe money) , 1. How I can make it halal? 2. Can I take out amount equivalent to price of land when it was purchased and distribute it to poor with niyat of repaying that bad amount, so agricultural income becomes halal to me? 3. If yes I have to pay at rate ?When it was purchased or at present rate?" 1177 views
Q. Conversion of Zakat Money to Regular Wealth and then use the same for Masjids, Madrasas and Dawah Work 1802 views
Q. I am a student and I don't earn my money yet. So the money I have is my parents. Can I give charity out of that money? 2039 views
Q. If a person buys three house for 150,000 Each and on each house he gets rent of 10,000 a year, is Zakah payable on 30,000 rent income or on full 3 house price 450,000 plus the 30,000 rent income? 1575 views
Q. Zakat on recurring deposit (RD) 1482 views
Q. A hospital is providing excellent treatment to poor Muslim patients completely free. Can I donate money to this hospital from my zakah? 3008 views
Q. Payment of Zakat 1381 views

Total Questions: 9181

Faiths & Beliefs

Miscellaneous

Prayers & Duties

Social Matters

Transactions & Dealings

Title: as-salamu-alaikum accuataly i want to know about zakat of lic. my anually deduction of lic is 10524, from 2003.last year iwas paid zakat of my lic balance from 2003i know that how calculated the zakat? the tatol balance of 2003 to till or the year of 2009. please guide about my problem.

Question: as-salamu-alaikum accuataly i want to know about zakat of lic. my anually deduction of lic is 10524, from 2003.last year iwas paid zakat of my lic balance from 2003i know that how calculated the zakat? the tatol balance of 2003 to till or the year of 2009. please guide about my problem.

Related Questions