Zakaah and Sadaqah

If someone owns 50 shares at 1,000$ and they are investing for long term growth and to live on a small percent of the sale 3% (including dividend being about 1%) then is Zakat due on the Zakatable assets of the companies he is investing in or entire current value.

Zakatable Assets = 50%

Would option one be ok to calculate Zakat as I have heard from some scholars about this method but would like to check.

1) 50,000$ * 0.5 * 0.025
2) 50,000$ * 0.025

Assalamu alaikum wa rahmatullahi wbarakatahu!
I want to know about Zakaat. Although I’ve paid zakaat on all the gold and bank savings. I want to know more on money which is yet not with me. I’m working on a profit sharing basis in a company which is my sole source of earning. I don’t own any asset nor any investment share in the company. I’m only liable to get a decided part of net profit depending on business. Total share isn’t given and is recorded in books only. Only an amount every month required for personal use is paid and some more is given as and when needed depending on availability, meaning, i never receive total amount to keep it as savings. I want to know if zakaat is Supposed to be paid on the calculated profit which is only on books as total is never in my possession. If yes then how it should be calculated. Please guide.

I am a domain investor and my question is regarding calculating zakat on domain names. I could not find an answer to this question anywhere, so your answer would help a lot of Muslims around the world. I buy and sell domains for a profit (sometimes at a loss as well). The problem is: domains are not liquid assets, and there is no scientific/objective way to calculate the price of domain names. There is a common saying in the industry that the domain is only worth what the seller is willing to pay. 

A new domain name, which no one has registered yet, can be bought for a fixed price (which is usually around $10 if we talk about .com).

As for selling, there is no way to tell what a domain will sell for (or if it will even sell). To give you an example of this: let's say I buy a new domain for $10, someone might come and buy that domain for $500. Another company could come and buy that for $2000. If a really large company is interested in acquiring that domain, they could pay $10,000 or higher for that domain. 

Another example: let's say you bought a premium domain name at a very good price (say $5000) in an auction and you list it for sale for $10000. A buyer may come and negotiate with you, and the final deal may be done at $6000 (so the final selling price is almost half of the initially-listed selling price -- this makes matters more complicated). 

There is also a very big possibility that the domain may never sell. In fact, the common STR (sell-through rate) of most domain investors is only 2-3%. To put it simply, this means that if you have 100 domain names, you can only expect to sell 2-3 names each year. Similarly, if you have 1000 names, you may only sell 20-30 domains out of these in an year. This means that the majority of your domain names (95-97%) will not sell in a year. 

How can one possibly calculate zakat in a scenario like this? In this case, is it permissible to give zakat on the purchase price instead of the selling price? (as nobody can predict what the domain will sell for or if it will even sell). 

Also, paying zakat on listed selling prices is almost impossible. For example, let's say I buy 200 new domains for a total of $200 ($10 each) and list each domain for sale for a fixed price of $1500 each. In most cases, you can only expect to sell 2-6 domains in a year (remember STR?).  There is also a possibility that I may not sell any domains. There is also a possibility that I may sell 3 domains at different prices (one for $10, one for $500, and one for $900). 

If I pay zakat on the listed selling price ($1500), my zakat would be 2.5% of (1500*200) = $7500 (which is impossible to pay as ALL of these domains were bought for a total of $200) 

Also, keep in mind that most domain investors keep large domain portfolios (usually 1000 to 5000 domains) to see predictable sales. 

Please provide a logical, reasonable way to calculate zakat in this scenario. Jazak Allah

As salam alaikum

I had received inheritance upon my mothers passing 20 months ago. My father who is in debt and has an interest bond asked me to lend him the money to pay off the bond, and he will pay me back at a later stage in the future. I had lent him 450k zar.

Instead of using the money to pay off the bond, my father instead used it to trade in stock markets and has lost all the money as well as other peoples. He currently owes millions in debt and still has the bond to repay. I highly doubt that he has the capacity to repay me at this point in time.

I enquire if i have to repay zakat on this loan given? I have personally lost my job a few months ago and will have to sell off personal items if I am to pay zakat on this loan. I dont know if I will be payed any time soon, perhaps many years in the future. Am I to indefinetely pay zakat on this loan given for years to come until my father finally repays me? Should I write this off as bad debt?

Is it still bad debt even if i have expectation of one day, years in the future, he might repay me? If written off as bad debt and I do get repayed one day in the future, do I need to pay zakat on the missed years?

I humbly ask for advice.

Jazakallah

Salam,

I have serval sources of income and wanted to get information on how to calculate and pay Zakat on them.


Salary:

How do I calculate Zakat on my salary?


Stocks/crypto:

I own stock/crypto; how do I pay Zakat on those?


Business:

I own a restaurant with partners: How do I pay Zakat from my business?


Software company:

I own a software company with a Christian partner 50/50. We raised money for the company.

The raised money is in our treasury that we pay expenses from because our revenue does not cover expenses. How would I pay Zakat in this situation?

Farmland:

I own farmland and get income from there. How would I calculate Zakat?

Aslm.
I have been gifted a land by my father in law. What is the ruling of zakaat on this piece of land for me .Jazak Allah

Can sadqah be given after magrib? I heard it's not permissible and haram

last year i paid zakat on the amount of Rs 1 lac and now current year ,i have to pay zakat also on last years saving ,or not?

Salaam alaikum. I have paid zakaah on my assests in a previous year. Now one more year has passed over the same assests. Do I have to pay zakaah on them again? JazaakAllaho khairan

If i forgive debt of my brother of 5000/- will my zakat get paid of 5000/- ?

Assalam o Alikum

I have two residential plots:
1. one purchased with the intention of constructing house on that
2. other purchased with intention to save money for now, and sell plot to make house on the other in future.

What are rulings of zakat for the 2nd plot?

Asalamualaikum,
Last Ramadan after calculating my zakaat I kept it with me due to pandemic situation which I did niyat to gave one of my poor relative, now my brother is in a situation that he is not having his home to reside... can I give this zakaat to my brother to help him to buy the land.

Asslam o Alaikum, I and my wife both have been working for last 10 years. and we both jointly have some wealth. which is well above nisab mashallah. we have disagreement on where to pay our zakat. so we want to pay separately. on what basis we calculate wealth share between us for the purpose of zakat calculation. JazakAllah

Assalamualaikum,

My query is; I calculated fidya money for my grandad since he was unable to pray salaah but whilst he is alive. Then I came to know from a reliable scholar that this is not valid as the person is alive and could pray his qaza at a later stage. Now since the fidya money was given just few days before Ramadan could I possibly make zakat intention and the money given be counted towards my grandad's zakah. it is lot money for a pensioner. Your guidance is appreciated.
JazakaAllah Khair

Wassalaam

i need guidance regarding zakat payment on saved money for home construction. i am construction my home since last 6 months. it will be completed in next 4 month with saved money and my monthly income. should i pay zakat on saved money or not? please help me.

regards,

As-Salāmu ʿalaykum wa-Raḥmatu -llāhi wa-barakātuh. We are a joint family comprising of 2 unmarried sisters and me. One of my sisters, due to health reasons is not working and is provided Zakat by us to support her needs. She is approaching her fifties but is unable to understand and manage her financial matters on her own. We don’t have any other relatives who are or would be willing to support her financially. There are no state financial support benefits she is eligible for either. I want to set up a sort of investment scheme which generates regular income for her in future to try to cover her expenses. Can I allocate a significant portion of my Zakat on a yearly basis to fund such a scheme? If yes, how would the matter of Zakat payable on such scheme be addressed? If the scheme is in her name, the assets would exceed the Nisab value and I assume she would not be eligible for Zakat then. If I maintain the scheme in my name, after the first year and then annually, I assume I would be required to pay Zakat on the accumulated Zakat payments (assets of the scheme) of prior year(s)? I would appreciate your guidance regarding both the matter related to financial support and Zakat computation based on our specific situation. Jazak Allahu Khayran.

Assalam u Alekum Shaik.
Alhamdulliah we have a large family of over 500 members & We have a family fund where most of the members contribute some amount monthly. The intention of the fund is to be used for Medical Emergencies in family if some one needs it.

Elders are suggesting that we should also include other needs like Marriages, Clearing Debts, Fees & Business lone to needy members.

Question is - Can we give/ take Zakat in such a fund.

Assalamualaikum,
I live USA. It is impossible to buy house here with all cash unless I save money for long time which could take 5-10 years. I sincerely want to avoid taking interest paying loan to purchase house. But if I save money and pay zakat 2.5% every year, after 10 years I would loose significant portion of that money.
In this circumstance, if I am saving money for sole purpose (let's say keep money designated ONLY for the purpose of buying house) to buy home in order avoid interest loan, do I have to pay zakat on that saving money that are designated to buy house and not for any other purpose?

Zajakallah,
Hossain

When calculating Zakaah do i calculate using the selling price or buying price?

Recently, I have bought a house present valued $250,000 from Islamic bank in Australia. I have to pay say $1500/month for 30years. I have some cash in bank say $40,000 in abroad. We have some gold as well. The total value in bank and gold is less then 250,000(house value) need to pay. Should I have to pay jakah? if yes on which amount?