Most Muslims choose to offer Zakat in Ramadan due to higher spiritual rewards in the holy month, but it is not necessary. Zakat should be paid once every year. The day a Muslim becomes the owner of minimum wealth that makes Zakat payable, they must calculate and pay the amount in the period of exactly one lunar year from this day. You must pay Zakat if, firstly, you are an adult Muslim of sound mind, and secondly, you have possessed the minimum amount of wealth (known as Nisab) for one lunar year. Nisab must be maintained for one lunar year for Zakat to be required and must be paid as soon as it is due. Your Zakat year therefore starts on the date your wealth first Answer: In the name of Allah, Most Compassionate, Most Merciful, The general principle is that all the loans payable can be deducted from the total of Zakatable assets, when calculating the amount of Zakat. If these loans are more than the assets, Zakat will not be obligatory. Otherwise, if the remainder is to the value of the Nisab (Zakat The minimum amount of an individual’s wealth at which they are eligible to pay Zakat. The different sources and assets of wealth have different calculations for the total nisab. Also, if the wealth of an individual drops below the nisab at any time in the zakat year, the calculation of the year will restart once the wealth becomes more than 2. Who pays Zakat? Every person who is sane, Muslim, an adult (has reached puberty), and has reached the minimum level of wealth (nisab) for a period of one lunar year or more is required to pay Zakat. The nisab - the minimum value of wealth one must possess for Zakat to become payable - is defined as: 85g of gold; 595g silver Dear Sir / Madam, DEDUCTION OF ZAKAT AT SOURCE IN RESPECT OF SAVING BANKS / PROFIT & LOSS SHARING AND SIMILAR BANK ACCOUNTS (ASSET CODE NO.101) AND DEPOSIT THEREOF IMMEDIATELY AFTER DEDUCTION DATE. We are enclosing a copy of the Notification No.CE-1001 (36)/NISAB/1443-44/2023-140 dated March 17, 2023 issued by the Ministry of Poverty .

minimum amount for zakat