Zakat is compulsory for every Muslim to pay it. The holy month of Ramadan is coming in April dated 02/04/2024 this is 1st Ramzan observed. Now the question is asked that how to calculate Zakat & on which product and things Zakaat is obligatory to pay to the poor etc.
Zakat Calculator Pakistan
Zakat Calculator Pakistan is used in Ramazan month. These are Zakat Slabs like Gold, Silver, Shares, Jewelry Ornaments, Pensions, Cash Savings, property, Investment, Household items, crops, Animals, cash investments, and earning profit.
Here is a zakat calculator Pakistan so you know the exact amount of zakat you owe for the profits and savings you made in the previous year. This is very easy for Zakat Calculator Pakistan 2024.
techlivo.com brings this Islamic Zakat calculator to your information. Zakat is deducted at 2.5% of the cumulative wealth for the current year. This is 3rd Pillar of Islam to be completed at every cost.
How Zakat Calculator Pakistan Working
The working of the calculator allows you to calculate your Zakat with the perfectly working calculator. This calculator is working as follows. You need to enter a few numeric digits into this calculator. It consists of the three data input sections i.e.
- Bank savings
- Gold & Silver
- Money owed to you
- Here you have to put the values that you have in your bank accounts. Either in a current or fixed deposit or savings accounts. TDR’s are also included in this section of the bank savings.
- The gold and silver include all the gold and silver that you have in your possession. All you need is to convert them into monetary value. According to the prevailing rate of the market.
- In this section, you have to include the amount of money that you owe to someone else. This can be an outstanding loan from the bank, a long term debt for the purchase of a house or immovable property, or it is a business lending that you need to return after some time.
Zakat Calculator Pakistan online
So, you’ve calculated the Nisab and found out that you’re eligible to pay Zakat for 2024. Well, while there are a number of Zakat calculators Pakistan available online, most of them will not show you how they’ve actually calculated Zakat for a particular year. In contrast, we’ll take you through a step-by-step process to help you understand how to calculate Zakat on gold and all your other assets for one lunar year.
Firstly, remember that Zakat is applicable on savings and assets that are in excess of your belongings for personal use. Therefore, your house, your clothes, your car, your appliances, and other items of daily use are not included in the calculations for Zakat.
How Zakat is calculated on gold in rupees?
They are required to donate 2.5% of their total wealth to those in need. The quorum of the Prophet Muhammad, may God bless him and grant him peace, is 20 gold Mithqal or 200 silver dirhams. This is Zakat Calculator Pakistan to measure equates to 87.48 grams (7.5 tolas) of gold and 612.36 grams (52.5 tolas) of silver, respectively.
- Gold
- Other jewelry ornaments
- Silver
- Shares
- Money that you have lent
- Pension
- Cash savings
- The property you have rented out
- Investment
- Cash investments
- Business purpose goods
- Crops
- Animals for business purposes
- Earning profit
- Even household items
What Is Zakat
Zakat is an obligation and it is the third pillar among the five most important pillars of Islam. The complete meaning of Zakat is to purify yourself along with your wealth. All the Muslims around the world must pay a portion of their wealth for charity. The charity made by the wealthy Muslims goes directly for the well being of poor and willing individuals of the society.
Zakat becomes compulsory when two of the conditions are fulfilled these conditions are the Nisab and the Due Date.
