• Prayers & Duties >> Zakat & Charity

    Question ID: 26336Country: India

    Title: i would like to like to enquire the system of paying zakah, i am a partner in my family bussines,so i own capital in the firm which is used for paying liabilities,labour payment,agriculture land for which i pay the zakah in the means of wheat and rice to the needy,i also have gold 280 gms,i want to buy some gold for my daughters so zakah is to be paid by me in this or not,i have bank balance,L.I.C. and P.P.F. in my name so please reply to my answer on how to calculate the zakah and pay it, i have asked this question earlier so please reply to my question as i am eagerly waiting for the reply.

    Question: Mufti Sahab Assalamo Alai Kum i would like to like to enquire the system of paying zakah, i am a partner in my family bussines,so i own capital in the firm which is used for paying liabilities,labour payment,agriculture land for which i pay the zakah in the means of wheat and rice to the needy,i also have gold 280 gms,i want to buy some gold for my daughters so zakah is to be paid by me in this or not,i have bank balance,L.I.C. and P.P.F. in my name so please reply to my answer on how to calculate the zakah and pay it, i have asked this question earlier so please reply to my question as i am eagerly waiting for the reply. ALLAH HAFIZ

    Answer ID: 26336

    Bismillah hir-Rahman nir-Rahim !

    (Fatwa: 1556/1556/M=1431)

    It is necessary for you to pay the Zakah of all the gold that you have. In case of buying gold for your daughters, if you keep it in your possession, you will have to pay its Zakah and if you give it in the possession of your daughters, they will have to pay its Zakah. In the same way, you will have to pay the Zakah of the amount deposited in the bank or in the name of LIC except the interest amount. Whatever capital amount you have deposited, calculate it and pay its Zakah as 2.5% when one year passes over it. When the PF amount will come into your possession, pay its Zakah in the same way.

    Allah (Subhana Wa Ta'ala) knows Best

    Darul Ifta,

    Darul Uloom Deoband, India