Zakat Calculator for online Donation
ZAKAT is a charitable donation that Muslims give to help the poor and needy.
In this section, we will discuss the meaning of ZAKAT, how much it costs and how it is distributed.
In Islam, ZAKAT is a charitable donation that Muslims give to help the poor and needy. It is one of the five pillars of Islam. The word “Zakat” means “purification.” It purifies one’s wealth by taking a percentage (2.5% for most Zakat-payers) and using it to help those in need. Every year, Muslims are required to pay 2.5% of their total income or wealth as Zakat on the day they calculate their annual income or assets.
How to work out how much zakat to pay?
Zakat is a type of Islamic tax that is required to be paid by Muslims who are wealthy. It is a fixed amount and the amount depends on the wealth of the person. Zakat comes in two types – zakat al fitr (the obligatory tax) and zakat al mal (the discretionary tax). The former has to be paid after Ramadan, while the latter can be paid anytime during the year. The amount of zakat you have to pay depends on how much wealth you have – if you own 10 items worth more than $1,000, then you have to pay 1/10th of your wealth as zakat.
What Is Zakat Money
Giving back to humanity is the third Pillar of Islam. Charity is a fundamental teaching of Islam. Generosity is a central theme In Islam that Allah (SWT) gives to those He loves, and He guides us to refrain from attachment to material wealth.
Zakat purifies the wealth of Muslims, as Allah (SWT) says in the Qur’an;
“It keeps one away from sin and saves the giver from the moral ill arising from the greed and love of wealth”.
What is Zakat Money?
Paying Zakat is an act of worship. It is a fundamental part of being a Muslim. Muslims purify their money and assets by giving zakat money to their less-fortunate brothers and sisters in Islam (the poor and needy people) to get closer to Allah, The Most Merciful. He (SWT) made Zakat the Third Pillar of the Five Pillars in Islam.
When Zakat is Due?
Zakat is an obligatory annual payment Muslims must pay at the end of every lunar year. Ramadan is the best time to pay it. Muslims whose wealth has reached “Nisab,” which is the minimum threshold required for an individual to be eligible to pay Zakat in that specific lunar year, need to pay Zakat money to purify their overall wealth.