Alhamdulillah, I am now eligible to pay Zakat. A few days have crossed the one year period after which Zakat becomes obligatory.
Mu' meneen Brothers and Sisters,
As Salaam Aleikum wa Rahmatullahi wa Barakatuh. (May Allah's Peace, Mercy and Blessings be upon all of you)
One of our brothers/sisters has asked this question:
Dear Brother Burhan,
I am now eligible to pay Zakat. A few days have crossed the one year period
after which Zakat becomes obligatory. Do I have to calculate the gold rates
exactly as per that on the day of completion of one year? Eg., one year
Awaiting your reply.
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Dates of zakah
In the name of Allah, We praise Him, seek His help and ask for His forgiveness. Whoever Allah guides none can misguide, and whoever He allows to fall astray, none can guide them aright. We bear witness that there is none worthy of worship but Allah Alone, and we bear witness that Muhammad (saws) is His slave-servant and the seal of His Messengers.
One may determine any date of the calendar year to calculate their zakah dues for the preceding year; thus if one has determined a date of 15-Dec as the completion of the year to determine their zakah dues, one should accurately determine the market value of their excess net wealth according to that date (15-Dec), even if one were to actually fulfill and pay their zakah dues at a later date.
Whatever written of Truth and benefit is only due to Allahs Assistance and Guidance, and whatever of error is of me alone. Allah Alone Knows Best and He is the Only Source of Strength.
Your brother and well wisher in Islam,