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Zakaah query

Fatwaa ID: 2165

Question:
Aslam o alaikum mufti saab. Apologies for the long message. just wanted to give some background before asking my question. the question is regarding zakat

  1. I am a salaried person. I have no other assets to my name. just a monthly salary. alhamdulillah
  2. my salary is fixed every month. I spend some money and save some money. spending and saving is not fixed it keeps changing every month
  3. I tend to give zakat in last ashra of every Ramazan for more sawaab. I know its not necessary but this is what I have been following every year just for more sawaab
  4. for example, if last time when I gave zakat, my bank balance was £10,000 and this time when I will give zakat my balance is £15,000 how should I calculate my zakat? would it be 2.5% of 15,000?
  5. my confusion lies in the fact that nisaab of zakat has to be for 1 year. but I did not have 15,000 in my account for 1 year. every month my bank balance keeps on changing. keeps on increasing slightly. so I did not have 15,000 for 1 complete year
  6. historically, I have been paying zakat by calculating total amount in my bank account in last ashra and give 2.5% of of the total. have I been doing it wrong?

Answer:
In the Name of Allaah, the Most Gracious, the Most Merciful.
As-salaamu ‘alaykum wa-rahmatullaahi wa-barakaatuh.

May Allaah Ta’aala place khayr and barakah in your life and wealth. We commend you for ensuring that your zakaah is being discharged appropriately.

At the outset, we would like to point out a few things:

  1. You cannot assess your wealth for zakaah on a random day, including blessed days. You must assess your wealth on your zakaah date. The zakaah date is a specific date which would be used annually unless your wealth is below the nisaab on that date. Your zakaah date would be that date on which you owned the minimum nisaab amount for the first time. This is the date on which now you will assess your wealth every year and also pay your zakaah. The zakaah date will only reset if you reach a flat zero anytime throughout the year or you have less than the nisaab on the zakaah date.
  2. It is not necessary to have every dollar for an entire year for it to be zakaatable. Rather, as long as you had nisaab at the beginning and the end of the year, whatever you have on your zakaah date will be subject to zakaah. This will apply even if you had something for only one day. If you had something for most of the year but used it or gave it away a few days before your zakaah date, then that would not be subject to zakaah.
  3. Zakaatable assets is not restricted to your bank balance only. It includes your savings, pocket change, cash at hand, gold, silver, trade goods, cryptos, stocks and most investments.

In the enquired situation, we understand that it may be difficult to recall the first time you had the minimum nisaab. You state that you have been paying zakaah during the last ten days of Ramadhan. We advise you to choose a specific date from that and adhere to that date every year. On that date, you will add together all your zakaatable assets and wealth and pay 2.5% of the total on that date. This includes whatever you have on that date even though you may have had it for a few days only. You will do the same on that same date the following year and so forth.

And Allaah Ta’aala knows best.
Mufti Muajul I. Chowdhury
Darul Iftaa New York
https://askthemufti.us/

08/13/1445 AH – 02/23/2024 CE | AMG3-4402

وصل اللهم وسلم وبارك على سيدنا محمد وعلى ءاله وصحبه أجمعين

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