Gold, silver and cash

Zakaat on gold

9 years ago By user2

Q: There are different concepts regarding taking out zakat on your gold. Some people say that you have to take it out on the price you will purchase that amount of gold (new gold price), some say that you need to deduct 12 mashaay, some say that on the amount you will sell your gold you have to take zakat on that amount of money. I cannot take my gold every year to the goldsmith to measure and then to take out the zakat due to the reasons of security. Can you please guide me the correct method in the light of Quran and Sunnah. For example if I have 12.947 tola of gold, and the rate of gold is as follows:

24K 10 Grams = Rs 42128

24K Per Tola = Rs 49150

22K 10 Grams = Rs 38617

What would be the amount to be taken out as zakat on the above mentioned gold rates?

Zakaat on jewellery

10 years ago By admin

Q:

1. A person has a jewellery shop. In this he sells a golden ring having a diamond. The gold value of the ring is 1000 pounds, but the ring is sold for 2000 pounds (which includes the value of the diamond, labour etc). Should he pay zakat on the gold value (1000 pounds) or the full value of the ring (2000 pounds)?

2. Further, the person buying the ring, should she pay zakat on the gold contents (1000 pounds) or the full value of the ring (2000 pounds)?

Zakaat on gold

10 years ago By admin

Q: If we pay zakaat for 108 grams gold one year, next year we minus 2.5 grams from that gold or not? I mean we pay 105.5 grams zakaat next year or pay for the same 108 grams?

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