Question & Answer
Zakah on 50,000 Rupees.

Assalamu Alaikum! I have a query regarding the zakat.. I have invested Rs. 50,000/- in a business which gives me some profit every month, which gets spent here and there.. Now my question is whether I have to pay zakat on Rs. 50,000/- or not? Moreover i have jewellery more than the nisab i.e., above 83grams of gold, and I Alhamdulillah pay zakat for it..
This Rs. 50,000 /- amount i invested only last year and a year is coming to an end.. Jazakallaah

Answer:



بسم الله الرحمن الرحيم

We begin with Allah’s blessed name, we praise him and we glorify him, seek his forgiveness and ask him to guide us. Whoever Allah guides, None can lead astray and whoever he misguides, None can guide. There is no power and no strength except from Allah, The most high, the Most great, the most powerful. We bear witness that there is no one worthy of worship but Allah Alone, and we bear witness that Prophet Muhammad (pbuh) is His slave-servant and the seal of His Messengers. We pray for peace and blessings on all the noble messengers and in particular on the last of them all “the blessed prophet Mohammad (pbuh)”

Dear brother, If your total net worth (i.e. gold, investment, other) is more than the prescribed nisab of appx. 85 grams of gold then you are liable to pay the obligatory 2.5% zakah on your excess wealth which has been in your possession for a full calendar year.

Dear brother, calculate all your excess wealth, if that wealth crosses the prescribed nisab and is with you for full calendar year, pay 2.5% zakah on that. And Allah alone knows the best.

I ask Allah to make this a sincere effort, seeking his pleasure, and I ask him to grant us refuge in him from the evils within ourselves, and that in our deeds. I ask him to grant us success in achieving whatever pleases him; And May Allah Shower His blessings and mercy upon our beloved Prophet Muhammad (pbuh), his family and his Companions and on all those who follow him until the final hour.

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