[Q-ID0050] How shall I calculate Zakah on my gold?

QUESTION:

When calculating Zakah, how should it be calculated? For example I got married last year in September and was given 22 tollay of gold.

1. Do I calculate Zakah on the gold from the time of receiving it?
2. Do I pay Zakah on all the gold or just on that which is above the Zakah threshold?

ANSWER:

1) The calculation of the yearly Zakah is from the moment you receive the gold and after one lunar year passes by.

2) You pay 2.5 percent of the value of the sum total of the gold in cash (provided the gold is 20 mithqal in weight or more). The sum total is inclusive of all the gold.

Allah knows best.

Answered by Shaykh Muhammad Asrar Rashid

Also see:

[Q-ID0068] What is the Nisab & how do we calculate Zakah?

[Q-ID0207] I’ve not paid Zakah for many years, how shall I pay now?

[Q-ID0516] Who has to pay Zakah? Is it payable only on that wealth we have held for year? Please explain.

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