Re: Zakat and the Method of its Calculation
If its coming from a student of Mufti Usmani, that fatwa is good enough for me. Thanks for sharing.
Re: Zakat and the Method of its Calculation
ok another question.....one of my friends is not working, neither is her husband...they have 2 properties at the moment..both with a mortgage...they have no savings and are pretty much in debt...however she does have about 19k worth of gold which she never wears...is she liable to pay zakat?
Re: Zakat and the Method of its Calculation
edited
Re: Zakat and the Method of its Calculation
Peace All,
Pardon me for bumping up this thread. Hope this will help many of us.
Re: Zakat and the Method of its Calculation
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Re: Zakat and the Method of its Calculation
Peace,
Pardon me for bumping up this old thread. Reason: maybe it will be useful for many of us.
Re: Zakat and the Method of its Calculation
where and to whom do I pay my zakat ?
I usually give it to my dad who send it to the needy one in his village, however he is away this year and i do not know where to pay.
I am in the uk.
Re: Zakat and the Method of its Calculation
Is Zakat applied on 401k as well?? I dont think its all my money for example if I wanna take it out now it'l be like 50% of total amount. is that right?
Re: Zakat and the Method of its Calculation
Then just calculate on the 50% and give.
How old are you and how much is in your 401k kitty ? 
Is it a fraction of a mil or a multiple ? 
Re: Zakat and the Method of its Calculation
No if i remember correctly our imam sahib told that zakat is NOT applicable on 401k unless there's any specific condition apply. I'm just forgetting what condition(s) he mentioned.
I was sitting very calmly and now just 2 days are left to figure it out and send zakat.
Re: Zakat and the Method of its Calculation
What is the best way to send zakat to IDPs and Ghazza ?
Where do you send your zakaat money, Siddiqui ?
Re: Zakat and the Method of its Calculation
even after going through the guidelines mentioned in the earlier part of this threat, i still have some confusions…can somebody help me in this… i have two saving accounts, account A where i directly receive my salary (about 95 K PKR) and another one “B” where i often transfer funds from “A”. I make expenses from both of the accounts (mostly from B) through out the year, so how exactly i have to calculate zakat in this senario?
Re: Zakat and the Method of its Calculation
Peace
Strictly speaking this fatwa for including money recently obtained is a fatwa for “estimation” this is not correct the way to calculate actual zakat and it is given for ease of calculation.
Re: Zakat and the Method of its Calculation
Peace All,
Pardon us for bringing this thread back. Many questions related to Zakat is answered. If you have any question related to Zakat, feel free to post here.
Re: Zakat and the Method of its Calculation
#Zakat_Ul_Fitr or Sadaqat-Ul-Fitr
It is narrated in Hadiths that the Sadaqat-ul-Fitr or Zakat-ul-Fitr should be paid before the people go out for Eid prayer. The Sadaqat-ul-Fitr or Zakat-ul-Fitr prescribed by Mu’awiya is "half Sa’a of wheat equal to one Sa’a of dates, however, Abu Sa’id Al-Kudri objected and said he will take out Sadaqat-ul-Fitr or Zakat-ul-Fitr as used to take out during the lifetime of Prophet Muhammad 
and that is equal to one Sa’a of dried dates, or one Sa’a of raisins (dried grapes), or one Sa’a of barley, or one Sa’a of cottage cheese.
Abdullah bin Umar further said: the people equalized it (then) with two mudds of fine wheat.
Sadaqat-ul-Fitr or Zakat-ul-Fitr is either 2.5 kilograms (5.51156 pounds) or 3 kilograms (6.61387 pounds) approximately. As per chart posted in above post, approximately calculation is as follow:
1 Sa’a = 8 Ratal = 4 kilograms = 8.81849 pounds
1/2 Sa’a = 4 Rata = 2 kilograms = 4.40925 pounds
Sadaqat-ul-Fitr or Zakat-ul-Fitr payer may consult local authorities before taking out Sadaqat/Zakat.
Almighty Allah knows best.
Re: Zakat and the Method of its Calculation
A year ago I was uncertain on this same subject and found some guidance by ‘psyah’ on a different thread. Nevertheless, this Ramadan I was calculating my zakaat and decided to take another look at this subject since this calculation involved going over my bank statements and inputting data onto a spreadsheet I created.
My issue was simple. I wanted to know the proper way to calculate so god forbid I don’t give less that I am supposed to. Upon the many websites I visited, I came across a book by Mufti Taqi Usmani (who I realized is a highly qualified Islamic scholar):
The link will take to page 13, which is the meat and potatoes of how it should be calculated. And on page 14, an example is given.
I decided to try this method this year and when compared to my spreadsheet calculation of my average monthly balance throughout the year, it came very close (within a few hundred dollars)
The task I used to dread has become a simple process.