answersLogoWhite

0

yes imprudent

User Avatar

Wiki User

7y ago

What else can I help you with?

Related Questions

Should zakat be paid every year on plot purchased?

Answer from website: http://www.khalidzaheer.com/qa/709Our understanding is that the law of Zakat given to us by the Prophet, has three categories: Zakat on livestock, production, and wealth. The details of each one of these categories is different. Zakat on wealth is applicable on all assets that are not in our daily use provided their combined value is more than the minimum threshold of nisaab . If there were exceptions to this rule during the times of the companions, there must have been reasons accompanying those exceptions. For example, in the case of land, it was either agricultural land that they had in their ownership, on which Zakat was paid in the form of Ushr or they had land which didn't carry value the way it does today. Even if land did carry value, it wasn't expressed in the form of price the way it is done now. Since plots of land in excess of one's need are very much a part of the total wealth people own today and they know their precise value, calculating Zakat to be paid on them is no problem today. There is no reason why Zakat shouldn't be paid on them today. It doesn't make religious sense that wealth owned in the form of gold and silver should be subject to Zakat but the same value stored in the form of plots should be exempt. God Almighty is neither against gold or silver nor is He in favour of land. He wants us to pay 2.5% Zakat every year on allwealth we own. And it is only He who knows the best.For example: http://www.islamicvoice.com/December.98/zakat.htmWhether Zakat is Obligatory on PlotsQ.2. I had purchased 3 plots of land five years back, one for constructing a house to live in, second one for constructing shops and the third one for selling it. Have I to pay Zakat on all these every year? If I have to pay, is it to be paid on the cost of their purchase or according to the value of land every year as it varies?Ans. Of the three plots, you have purchased, one is for the purpose of constructing a house to live in , on the price of that plot Zakat is exempted. You have to pay Zakat on the other two plots every year as per the market value each year. For example, if you have purchased the plot for Rs.50,000/= and now the market value of that plot is one lakh rupees, you have to pay Zakat on the amount equivalent to one lakh rupees only.Conclusion:If the intent is to own a plot for building a house for personal use in the future then Zakat is not obligatory on that plot. If plot is intended as an investment and for sale in the future when the market value is profitable, then zakat is obligatory on that plot for every year it remains under your ownership and to be calculated as 2.5% of the market value at the time of paying zakat.


Do you have to pay zakat on the same money every year?

Yes, so far the money is more than a certain minimum limit.


Can you pay zakat in instalments?

Yes, Zakat can be paid in installments. This can be helpful if someone is not able to pay the full amount at once. However, it's best to make sure the full Zakat amount is paid within the same Islamic (lunar) year__ it becomes due. Paying in parts is allowed, but the full amount should be completed before the next Zakat year. This helps keep the Zakat obligation complete and on time. Some organizations, like Penny Appeal Canada, allow people to donate Zakat in monthly or custom amounts. According to their Zakat policy, 100% of the donation goes to people in need, with no money taken for administration. They also make sure the Zakat is given to those who are eligible, and they keep the funds in a separate bank account until it's used. Anyone who wants to give Zakat in installments or see which causes are eligible can visit their website: pennyappeal.ca/program/zakat/ If someone is unsure how to calculate their Zakat, it's a good idea to speak with a scholar or contact the organization for help.


Can you pay zakat on assets?

Yes we can pay zakat on our assets.


What if we can't pay the zakat?

If you don’t meet the nisab threshold—the minimum amount of wealth held for a lunar year—you are not required to pay Zakat. Islam only obligates Zakat on those who are financially able. Zakat is meant to uplift the community, not cause hardship. If you're struggling financially, you may actually be eligible to receive Zakat instead. At Penny Appeal USA, we’re here to help you understand your Zakat obligations—and to ensure that no one is left behind, whether they are giving or receiving. Donate Now: pennyappealusa.org/campaigns/zakat-2/


Do you pay zakat on kids saving?

No we cannot pay zakat on kids saving. On kids saving we pay Fitrana.


How is zakat done in Britain?

it is organised at the end of each year for the Muslims to pay a fee


How to pay zakat on gold?

To pay zakat on gold, you need to calculate the value of the gold you own and then give 2.5 of that value as zakat. This is typically done once a year. You can either give the actual gold or its equivalent value in cash to those in need. It is important to ensure that the gold meets the minimum threshold for zakat eligibility.


When was zakat ordinance enforced?

The zakat system is for Muslims who have cash or a specified amount of gold, silver, or trading goods that they have possessed for a year and have to pay 2.5 percent of it to the poor. The Zakat and Ushr system was enforced in 1980.


When zakat was made obligatory?

zakat will be obligatory for adult muslim if his money increase some rate for one year , it will changed as your country changed example : if zakat rate is 4000$ so if these 4000$ still with you for one year so you have to pay from them 2.5% - > 100$ .


You have 85 gm gold how much zakat do you pay?

Use Penny Appeal USA’s Zakat Calculator to get the exact current amount and easily pay online. This ensures your Zakat reaches verified, Zakat-eligible programs—supporting food, water, orphan care, and more. Visit Now: pennyappealusa.org/campaigns/zakat-2/


How do different organizations spend zakat?

they pay zakat to Qumran education institutions .