1 - Is zakat applicable on your running jewellery? I mean jewellery that is not in store or in your locker but you wear it everyday or once in a while e.g. rings, bracelets etc.
2 - Its applicable only after you have kept it for a year, right? Say I got some jewellery on 1st January 2012, zakat will be applied on it only on 1st January 2013 right?
3 - Who is it applicable to? My husband’s cousins are orphans but his family takes care of them so can it be applied to them or not?
4 - How much is it? Say some one has 10 tola of gold. Gold is Rs. 50,000 per tola. So then its 2.5% of 50,0000, right?
1 - Is zakat applicable on your running jewellery? I mean jewellery that is not in store or in your locker but you wear it everyday or once in a while e.g. rings, bracelets etc.
2 - Its applicable only after you have kept it for a year, right? Say I got some jewellery on 1st January 2012, zakat will be applied on it only on 1st January 2013 right?
3 - Who is it applicable to? My husband's cousins are orphans but his family takes care of them so can it be applied to them or not?
4 - How much is it? Say some one has 10 tola of gold. Gold is Rs. 50,000 per tola. So then its 2.5% of 50,0000, right?
1. there is no zakaat if you have under 7 tolas of gold/gold jewelry.
yes...one full year has to pass before zakaat is due
it's given to needy people...if the person who provides for those children has a limited income and has a hard time to support them then you can pay zakaat money to him/her.
zakaat will be due on the entire 10 tolas @ 2.5% of the total value of 10 tolas sona.
1 - If it is more than that, say its 20 tolas but that includes jewellery that is of everyday use.
it doesn't matter...there is NO exemption for 'daily use' jewelry. gold is gold, no matter what it is used for.