What is Zakat?
Zakat is the third pillar of Islam. It is an annual charity, and it is obligatory for all Muslims.
This payment or giving a specific portion of wealth is for poor people, vulnerable, and deserving. There are some conditions for giving zakat,
Zakat on Gold
Zakat on pure gold reaching nisab equals 85 grams, must be 2.5% of it, and it should be paid after one year of possession.
Zakat on Gold and White Gold Jewelry
As we mentioned before, zakat is obligatory for all types of gold. Despite gold’s color (Yellow, White, Red), it has the same zakat amount, 2.5% of your gold amount for 85 grams.
Zakat on Silver
Zakat on silver is different from zakat on gold. It calculates in the same way in different amounts.
Zakat on silver reaching nisab is equaled to 595 grams, 2.5% of its amount.
Zakat for silver is for all silver items we have. It’s not limited just to jewelry.
Zakat on Silver Jewelry
Zakat on silver jewelry contains every single piece of jewelry we have. No matter how small or big it is, we pay Zakat for its amount.
Zakat on Other Jewelry
Using stones as ornaments, you don’t have to pay zakat for them because you don’t have to pay zakat for diamonds or jewelry used as ornaments. However, for that jewelry, you keep as savings, you must pay zakat for jewelry items with diamonds.
Nisab
Nisab is the minimum amount of wealth a Muslim should possess before they are eligible to pay Zakat. Gold and silver are the two values used to calculate.
Nisab for gold is 85 grams, and for silver is 595 grams.
Zakat Percentage of Gold
Zakat percentage on gold is 2.5 percent for 85-gram.
Nisab of Zakat on Gold
The nisab of zakat on gold is 2.5% for 85 grams of gold.
Nisab of Zakat in Silver
Nisab of zakat in silver is 2.5 percent of 595-gram.
Zakat Calculations
You can calculate your zakat by Bonyan zakat calculation by this link below.
https://bonyan.ngo/en/zakar-calculator-online/
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FAQ
Do You Pay Zakat on Gold Jewelry?
Gold and silver are subject to zakat in all their forms except women’s jewelry they use for ornaments.
How is Zakat Calculated on Gold Jewelry?
You can calculate the zakat of gold jewelry by calculating 2.5% of your gold amount.
Is Zakat Applicable to Jewelry?
For women’s jewelry, no. For men, yes.
How Much Gold is Exempt from Zakat?
There is no experiment for zakat on gold.
What are Zakat Rules for Gold?
Giving 2.5% of the gold amount.
Is there Zakat on Gold Jewelry Hanafi?
Yes, some scholars, including the Hanafis, consider gold and silver Zakatable wealth, regardless of their form.
What is the Zakat Calculator Gold Tola?
It is 85 grams of gold for 7.5 tolas.