Zakaat on gold less than nisaab
Submitted by user2 on Wed, 2023-05-10 08:00
Q:
1. I wanted to ask if the only excess wealth a person has is a Kruger coin, is one liable for zakaat as it is less than 87 grams?
2. If a person has the cash that is more than the nisaab and also has gold in the form of 1 Kruger coin only, is zakaat liable on both the cash and the Kruger coin or only the cash?
A:
1. If the person only has 1 Kruger coin and does not possess any other zakaatable wealth (e.g. cash, stock of trade, shares in a company, etc.), then zakaat will not be compulsory upon the Kruger coin as the weight of it is less than the gold nisaab.
2. One will add the value of the Kruger coin to the cash and pay 2.5 % zakaat on the total value.
And Allah Ta'ala (الله تعالى) knows best.
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