Fatwaa ID: 1084
As salmuwalikum Mufti sahib, my husband has businesses and he has business loans, he does not have cash in hand or bank, I asked so many times to gives exact amount of loan and cash amount to calculate, but he can’t because cash comes and goes and I have also gold but I have estimated amount, I can’t figure out exact amount of gold and most gold I got as gift. every year I calculate zakat as estimated amount . Is it correct. If it not correct then next year can I keep minimum amount of gold so I will be exempt from zakat
In the Name of Allaah, the Most Gracious, the Most Merciful.
As-salaamu ‘alaykum wa-rahmatullaahi wa-barakaatuh.
We wish to clarify a few points before answering your question:
-The liability and eligibility of zakaah is individual based. The zakaah of a person is not affected by the financial condition of his/her spouse. The husband will calculate his zakaah separately and the wife will calculate her zakaah separately. They will not combine or join together in calculation. It may even be that their zakaah dates are different.
-Zakaah is calculated on one’s zakaah date. This date is the first time one owned the nisaab amount. This is a specific date.
-Whatever one owns on his zakaah date will be subject to zakaah even if he held it for a short moment. It is not necessary to own each asset for a year.
-You cannot work with estimates as there is a possibility that you will be discharging less than what you have to.
-Gold received as gifts is also subject to zakaah.
-When calculating for gold, all zakaatable assets such as cash, gold, investments, etc. will be added together. Each asset will not be assessed individually.
-Zakaah is not a penalty. It is a blessing. You should not be scared of paying zakaah. You should not keep minimum amount solely to be exempt from zakaah.
-Zakaah assessment is a ‘ibaadah. Aside from the spiritual benefits, it has financial and monetary benefits as well. It pushes one to be accountable and mindful of his spendings.
In the enquired situation, your husband will assess his wealth separately from you and you will assess your wealth separately from him. On his zakaah date, he will add all the zakaatable assets that he has. This includes trade goods and other zakaatable assets from his businesses. This may include many of his investments as well. It is not clear how he has no cash but has businesses. He will then deduct the loans that he has. For long term debts, he will only deduct that which is payable in the next twelve lunar months. If the balance after deductions reaches the nisaab amount, then he will pay 2.5% of the total balance.
Separate from him, you will add together all your zakaatable assets on your zakaah date. This includes gold, money including pocket and spare change, investments, etc. If the total is equivalent to or more than the nisaab, then you will pay 2.5% of the total.
We suggest that you sit with your competent local scholar and request him to assist you and your husband in calculating your annual zakaahs.
And Allaah Ta’aala knows best.
Mufti Muajul I. Chowdhury
Darul Iftaa New York
10/08/1444 AH – 04/28/2023 CE | AML1-7607
وصل اللهم وسلم وبارك على سيدنا محمد وعلى ءاله وصحبه أجمعين
Nisaab today is $627.49 CAD.
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