How To Calculate Zakat On Gold In Indian Rupees. If the current assets are less than the current nisab, then zakat payable = current assets * 2.5%. Zakat is calculated on the current assets after deducting liabilities from the net assets.
It’s not a voluntary charity or taxation, but it’s a responsibility since it’s among the 5 chief pillars of islam. F your net balance is equal to or greater then either the nisaab for gold or silver and you had this for 1 lunar year (12 months, e.g. If you are finding it difficult to know how to calculate the zakat amount, you can do it easily with the following zakat worksheet file.
Zakat means grow (in goodness) or 'increase', 'purifying' or 'making pure'.
It is according to the teachings of shariah that on your total wealth, you have to give 2.5% of zakat. If you are finding it difficult to know how to calculate the zakat amount, you can do it easily with the following zakat worksheet file. If yu have 7.5 tola gold, if a muslim has 52.5 tola silver then he is liable to complete this process. You only pay zakat if your net assets equal or exceed the nisab threshold.