Is the below link a good one to calculate zakat ?
How do you calculate how much you owe?
Re: Zakat calculator
Peace @akaprincess
I checked Zakat on Gold and it shows accurate percentage of due Zakat. However, due to difference of currency, there is difference in decimal only and that is not an issue at all.
I did calculation manually like this:
**1 gram Gold Rate (of today) = USD 30.33 x 85 gram = USD 2,578.05 (Nisab)
If your gold is equal or exceed value of Nisab (USD 2,578.05) the 2.5% Zakat is due.
USD 2,578.05 x 2.5 = USD = 6,445.12 / 100 = USD 64.45
USD 64.45 Zakat is due which need to be paid.
**If we enter USD 2,578.05 amount on the given link then it shows same answer i.e., 64.45, as calculated above manually.
Re: Zakat calculator
I thougt zakat was due on income too though, not only gold.
Which is accurate?
Re: Zakat calculator
So the nisab amount is $2,578.05 right?
And this changes every year too?
So, if my gold value is higher than the $2,578.05, i have to pay 2.5% on the value of my gold.. is that right?
So, lets say my value is $4,000- then i have to pay 2.5% of that which is $100?
Re: Zakat calculator
Zakat is due on your assets with some exceptions. The calculator is taking into account different assets/accounts etc. Zakat is due if your assets minus what you owe over a certain period of time exceeds the amount of nisab.
Re: Zakat calculator
How do i know how much the nisab is ?
Re: Zakat calculator
Peace @akaprincess,
**
Question: I thougt zakat was due on income too though, not only gold. Which is accurate?**
**Answer: Zakat is due on income as well as on gold too, if both/one of them exceed from Nisab.
**
Question: So, lets say my value is $4,000- then i have to pay 2.5% of that which is $100?
**Answer: **Yes.
**Question: How do i know how much the nisab is ?
**
**Answer: **Nisab is fixed which is 85. You have to calculate your gold value. Means if you have 18 carat gold and 21 carot gold, then you must calculate market value (in currency) of both gold separately. Once you get market values of both golds, then you add both and if it exceeded nisab value then take out 2.5% of total market value as Zakat.
Suppose nisab is 10. You’re 18 carat gold market value is 6 and 21 carat gold market value is 5. Add both (6+5=11) and you’ll get 11 which is more then nisab 10. Now you have to pay 2.5% on 11.
**Question: So the nisab amount is $2,578.05 right? And this changes every year too?
**
Answer: Yes, the zakat amount as per current rate is almost $2,579.05 as it is changed due to rate of change in gold price. Yes it changes every year depending on rate of exchange of gold.
**
Question: So, if my gold value is higher than the $2,578.05, i have to pay 2.5% on the value of my gold.. is that right?
**Answer: Yes, if your gold value is equal or higher then the $2,578.05, then you have to pay 2.5% on the value of your gold, otherwise no Zakat is deductible on less. However, if a person still wish to pay Zakat then it is good for that person.
Re: Zakat calculator
^^^also please visit the following threads for some details.