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Zakat

Last updated: 28th July 2022
Question ID: #7304
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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?


بسم الله الرحمن الرحيم

الجواب حامداومصليا

Salary:

When your Zakat is due at the end of the year you include your salary as savings or after deducting from expenses and debts. You don’t need to calculate it every month.

Shares:

Zakat will be obligatory on the face/market value of the shares.

Business:

If a person has invested his money in a business thus became the owner of a proportionate share in the business, then he will have to pay Zakat on the market value of that share.

Software company:

Any excess money left over after expenses and debts will need to be included in the Zakat.

Farmland:

Whatever income in form of cash or the market value if any merchandise that was purchased for resale or the plot of land that was purchased for resale or any manufacturing goods and raw materials should be included into Zakat.

Machines etc, which are used in farms are not classed as merchandise, thus Zakat is not necessary.


And Allah knows best .

09 Rabiul Thani 1444/ 04 November 2022
Mufti
Answer last updated on:
5th November 2022
Answered by:
Ulamaa ID 04
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Location: London
Mufti Qamruzzaman

London, UK