Is there Zakaat on gold or silver

Question: What is the ruling of the Ulama-e-Ahle Sunnat wa Jamaat in the following cases:

(a) Is there Zakaat on gold or silver jewellery that is for daily use or that which has been kept away?
(b) Does the Nisaab of the Zakaat for jewellery remain as per the price of jewellery when it was purchased or does this fluctuate as per the market value of the jewellery and thus will it be calculated as per the price at the time of calculation for payment (of zakaat)?
(c) What is the ruling regarding that money which is invested in business, such as money that has been used to purchase material (cloth) or for rentable things etc? How does one give zakaat on this?
(d) What is the Zakaat that needs to be paid per one hundred?
(e) Can one give the money of Zakaat to a Kaafir, mushrik, wahabi, raafdhi (shia) or qadiani etc?
(f) Who is it best to first give one’s zakaat to? If one’s brother’s sisters or parents are not zakaatable, can they be given zakaat or not?
(g) That person who has fifty six rupees is Zakaatable (This was during that era). Now what should he give in Zakaat?
(h) Upon who is Qurbani necessary and is it waajib or fard?
(i) Nowadays in India, some Muslims stop us from making Qurbani of cows, as they wish to please the mushriks and they say that we should make Qurbani of goats. Now, what should we make qurbani of?

The Answer:

(a) There is full zakaat on the jewellery, whether it is worn at all times, or it is not worn at all. والله تعالى اعلم
(b) If gold is given in place of gold and silver for silver, then there is no need to pay the market related price. In doing so, one must give one fortieth of the weight of the said jewellery. However, if one wishes to give silver in payment of gold and gold in payment of silver, then the market related value will be used. The market related value at the time of making or purchasing the jewellery and the current market value will not be taken into account if it is before or after the year had come to an end, but the value taken into account will be after one complete year according to the Arabic month and date that he became zakaatable. The payment of zakaat will be according to the value at that particular time. والله تعالى اعلم

(c) At the end of the year, the market related value of the goods for business, will be used to pay the zakaat on it, which is one fortieth (2 ½ %) of its market related value. والله تعالى اعلم

(d) The easiest way, is to pay two and a half rupees on every one hundred rupees (Translators Note: Use the currency of your country, eg. R2.50 on every R100 in South Africa) والله تعالى اعلم

(e) It is haraam to give them Zakaat and if one does give them Zakaat, the zakaat will not be discharged. والله تعالى اعلم Read the rest of this entry »

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