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Lesson No 102 ALMSWORTHY CAPITAL AND ALMS (ZAKAT)
Ans. Zakat must be given out of silver, gold and all kinds of merchandise.
Ans. All the things made of gold and silver are alms-worthy whether they are guineas, coins, ornaments, ware and the articles of embriodery.
Ans. Alms must be paid for the jewellery in a man’s possession if it is meant for merchandise. If it is not for trade, no alms is commanded to be given out of it whatever its value. Similarly, if a person has utensil of copper or some other metal worth more than the minimum amount prescribed for charitable capital or he has a shop or a house worth more than the minimum amount prescribed for charitable capital or he has a shop or a house worth more than this limit for which rent is also received by him, or else has goods other than gold or silver, but none of these things are traded by him, Zakat will not be a command for him. Q. What is the law in Shariah about a person who has government almsworthy notes? Ans. He is commanded to pay Zakat for them.
Ans. In such a situation, gold should first be valued in terms of silver or silver in terms of gild to see whether the value of the two put together becomes of the order fixed for Nisab (almsworthy capital). If the value is not less than the prescribed limit discussed above, Zakat must be paid, otherwise it is not necessary.
Ans. Zakat is not obligatory on him.
Ans. Anything meant for sale and profit making whether foodgrain, sugar, footwear, grocery etc., comes under the definition of "merchandise".
Ans. The Shariah has prescribed certain minimum quantities for the items of wealth out of which Zakat must be paid. The moment one comes to possess such quantities of these articles, Zakat becomes a command for him. This quantity is known as Nisab (alms worthy capital). Q. What is the prescribed minimum alms-worthy capital of silver? Ans. The minimum alms worthy capital for silver is about 606 grams.
Ans. Zakat must be paid at the rate of 1/40 th of silver. As such the quantity to be paid out of it comes to a little over 15 grams. Q. What quantity of gold is the minimum alms worthy capital? Ans. The minimum prescribed alms worthy quantity or gold is about 89 grams and the amount of Zakat out if it calculates to about 2.22 grams.
Ans. Value the merchandise in grams of gold or silver. Then considering the minimum limit of Nisab for gold & silver calculate the Zakat in it.
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