How To Calculate Zakat On Gold

Ensuring you give the right amount you are liable for is equally important.

How to calculate zakat on gold. If your personal wealth is above 129 you owe zakat. But the gold zakat calculator suggests that the people who have more than 3 ounces of gold have to pay zakat on all the gold that they possess at the rate of 2 5 per cent. Zakat calculator for gold.

Giving zakat is important. For example if someone has gold jewellery that weighs 10 grams they will have to give the market value of 0 25 grams i e. In this step add the values of cash.

For example if you own 50 grams of gold jewellery you would owe 54 50 zakat 50 grams x 1 09. 2 5 of 10 grams of gold as zakat. According to sharia law nisab is the minimum amount a person.

In the next step add the quantity of gold and silver that you have possessed for more then a year and its price. How to calculate zakat on gold a gram of gold costs around 32. Hence if the market value of gold is 28 per gram they will have to pay 7 0 25 x 28 as zakat.

The calculation for zakat on gold silver is as follows. That means that the zakat on gold which you need to pay is. Net value of business inventory and trade goods.

80p per gram 9 34 per tola bori. Business cash on hand and in banks plus invoices due. If your personal wealth is below the nisab you don t owe zakat.