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I have one small diamond set for that also how to calculate plase help me.

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:

So pls can me reply at list this answered before also i asked question about zakat. we have one three floor building for that how much zakat now to give this year ramzan month, before we having bank credit loan, but this we cleard full bank loan from three months back ,to how calculate amnount from this month or full year amount for zakat please reply me answered as soon as possible. and one thing is i have one small diamond set for that also how to calculate plase help me .

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Gold zakah calculation

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.

In principle, zakah is to be paid every year on the excess wealth of every believer (man, woman, or child) after it has been in their possession for a period of one calendar year.

If the total nett worth of any believer is more than the prescribed ‘nisaab’ of 7.5 tolas of gold (app. 85 grams or app. Value US\$1,000.00), then the person is liable to pay the obligatory zakat of 2.5% on their excess wealth which has been in their possession for a full calendar year.

Your Question: ….we have one three floor building for that how much zakat now to give this year

You need to determine the market value of the building that you own and pay 2.50% of that market value as the annual ‘zakah’ of that property.

Thus if the market value of the property is US\$100,000.00, the annual zakah for this year would be US\$2,500.00.

Your Question: ….before we having bank credit loan, but this we cleard full bank loan from three months back ,to how calculate amnount from this month or full year amount for zakat

You would be liable to pay the annual zakah every year on your share of your excess wealth….thus say the market value of the property in question is US\$100,000.00 and the loan outstanding on the property was US10,000.00….in such a situation you would be liable to pay the annual zakah of 2.50% of US\$90,000.00 or US\$2,250.00.

Your Question: …..and one thing is i have one small diamond set for that also how to calculate plase help me .

Sunan of Abu-Dawood Hadith 1558 Narrated by Abdullah ibn Amr ibn al-'As

A woman came to the Messenger of Allah (saws) and she was accompanied by her daughter who wore two heavy gold bangles in her hands. He (saws) said to her: ‘Do you pay zakat on them?’ She said: ‘No.’ He (saws) then said: ‘Are you pleased that Allah may put two bangles of fire on your hands?’ Thereupon she took them off and placed them before the Prophet (saws) saying: ‘They are for Allah and His Messenger (saws) (to distribute to the poor as they will).’

You need to determine the value of your diamond set and pay its annual zakah at the rate of 2.50% of its value.

Whatever written of Truth and benefit is only due to Allah’s 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,

Burhan