i am a married indian. i want to know on what things zakat will be for me and my wife 1.My wife owns more than 85 gms of gold and she has US$ 500 in her account. is she liable to zakat and how will i calculate it.

2.i have more than 85 gms of gold worth( money in my bank ). But its not been there for 6 months or more . its been gradually increasing as a part of my salary. should i calculate it at 2.5 % of my entire amount.

3. i have given loan to my brother and sister ( without expecting any interest ofcourse !! )and am not sure as to when i will be returned . should it be added to my amount for calculating zakat.

-- irfan jafar shaikh (ishaikh@kfu.edu.sa), November 17, 2002

Answers

if you are a person of wealth you have to pay 2.5% on all your wealth, it is not important that that particular gold hasn't been with you for an year

however please contact someone qualified

like Maulana Mufti Ibraheem Desai ãÏ Ùáå

loan recheduling

-- Your Full Name (irfan jafar shaikh (ishaikh@kfu.edu.sa)), September 11, 2003.

I have to correct the initial answer in that you do have to have your wealth which is over the nisab (minimum wealth before zakat payable) for a period of one year. please see the following site: http://www.sunnipath.com/Resources/Questions/QA00003812.aspx

-- anonymous (zptk1@hotmail.com), September 01, 2004.