| Zakat Calculator Ver -2009 http://zakat.110mb.com/ |
(Use Only YELLOW cells to fill Values. Please read the
Summary for details, before filling this) |
| | | Weight in Grams | Price/Gm | Estimated Value | Zakat Payable |
| 1 | ZAKAT
ON GOLD (2.5%) | | | | |
| 1a | 24 Carat Gold/Jewelry | | | . | - |
| 1b | 22 Carat
Gold/Jewelery | | | . | - |
| 1c | 18 Carat Gold/Jewelry | | | . | - |
| 1d | Other Gold
Valuables. (Pls insert the Current
Estimated Value) | | | | - |
| | | | | | |
| 2 | ZAKAT ON PRECIOUS
STONES (2.5%) | (Contentious
subject. Refer Notes. Don’t Calculate if you disagree or are uncomfortable.) |
| | Calculate the nett
Market Value of the Precious stones like Diamonds, Rubies, Etc. and add them
to the Estimated Value Column | | | | - |
| | | | | | |
| 3 | ZAKAT ON SILVER (2.5%) | | | | |
| | Include Household
Silver Utensils, Artefacts, and Jewelery.
For Utensils, usually the silver is 90% pure so take 90% of the total
weight | | | - | - |
| | | | | | |
| 4 | ZAKAT ON CASH IN
HAND /BANK (2.5%) | | | Actual Value | |
| 4a | Cash in Hand | | | | - |
| 4b | Cash in Bank in
Savings Accounts | | | | - |
| 4c | Cash in Bank in
Current Accounts | | | | - |
| 4d | Cash held in Fixed
Deposits | | | | - |
| | | | | | |
| 5 | ZAKAT ON LOANS /
INVESTMENTS/ FUNDS/ SHARES, ETC (2.5%) | | | Actual Value | |
| 5a | Loans Receivable from
Friends and Relatives | | | | - |
| 5b | Investment in Govt
Bonds | | | | - |
| 5c | Provident Fund
Contribution to date. | | | | - |
| 5d | Insurance Premiums
including bonus up to date | | | | - |
| 5e | Value of Shares
(stocks) including Dividends. Take their market value on the date of
calculation | | | | - |
| 5f | Government Security
Deposits, ADRs, etc | | | | - |
| 5g | Investment in Private
Chits, Funds, etc | | | | - |
| 5f | Other Sources of
Wealth | | | | - |
| | | | | | |
| 6 | ZAKAT ON LANDED
PROPERTY (2.5%) | | | Estimate Value | |
| 6a | Landed Property held
as an Investment / Business (Estimate the current Maket Value) | | | - |
| 6b | Zakat on Rentals
Coming from Property (After Deducting for all expenses) | | | - |
| 7 | ZAKAT ON
BUSINESS (2.5%) ---------- | (STOCK-IN-TRADE) | | |
| 7a | Value of Saleable
Stock | | | | |
| 7b | Value of Damaged /
Dead Stock | | | | |
| 7c | Amount Receivable
from Credit Sales | | | | |
| 7d | LESS: Amount Payable
to Suppliers (Credit taken from suppliers for stocking goods) | | | | |
| 7e | LESS: Bad Debts | | | | |
| | TOTAL VALUE OF STOCK
( 7a+7b+7C-7d-7e) | | | . | - |
| | | | | | |
| 8 | ZAKAT ON SHARE IN
PARTNERSHIP FIRMS (2.5%) | | | | |
| 8a | Capital Balance as
per Last balance Sheet | | | | |
| 8b | Loans Advanced by you
to the Firm as of Date | | | | |
| 8c | LESS: Withdrawals made by you during the current
Year. | | | |
| 8d | Accumulated Profit
from the date of Balance Sheet to this Date (Estimate the Profit Value as it
is difficult to get exact figures in the middle of Accounting Year) | | | |
| | NETT TOTAL WORTH
CALCULATED | | | . | - |
| | | | | | |
| 9 | ZAKAT ON
AGRICULTURAL PRODUCE (10%, 7.5%, 5%) | | | Value of Produce | |
| 9a | Produce Dependent on
Rain Water - @ 10% of product (crop) in Value or Kind | | | - |
| 9b | Produce totally
dependent on Artificial Irrigation like Canal, Tank, Borewell, etc. @ 5% of
Produce (crop) in Value or in Kind | | | - |
| 9c | Produce dependent
Partially on Rain Water and Partially on Artificial Irrigation @ 7.5% of the
produce Value or in Kind | | | - |
| | | | | | |
| 10 | ZAKAT ON ANIMALS
& POULTRY & FISH FARMING | | | Total Value | |
| | Animals/ Birds more
than 6 months Old - @ 1 Animal or Bird
PER 40 either in Kind or Value thereof. | | | | - |
| | | | | | |
| 11 | GENERAL LIABILITIES - You need to deduct your direct
Payables or Liabilities which have not been deducted earlier - Usage of the
loan should have been on Zakatable
Wealth only. HOME & CAR Loans are not to be deducted | | |
| 11a | Personal Loans/ Debts
which are to be paid back | | | | |
| 11c | Income Tax / Wealth
Tax Payable (which is due and already counted towards your wealth) | | | | |
| | TOTAL LIABILITIES | | | . | . |
| | | | | | |
| | TOTAL ZAKAT PAYABLE | | | | |
| | | | | | |
IMPORTANT: PLEASE READ BELOW SUMMARY FOR INSTRUCTIONS
& NOTES: | |
| | Dear
Brothers & Sisters, |
| | Alhamdulillah,
the month of Ramadhan has been bestowed upon us by Allah. ZAKAT is one of the five fundamental
pillars of Islam, mandatory on all muslims who are of eligible wealth. Zakat is due
from and payable by a person on his wealth (and not his income), which has
remained with him/her for one Islamic year. |
| | It is
difficult to calculate the completion of one year on each item of wealth,
because purchase dates may vary. To
overcome this difficulty, a practical method is to fix a date (e.g. 1st of
Ramadhan), compute your total wealth on that date and calculate Zakat,
thereon. |
| | The
attached spreadsheet is a humble attempt at making the calculation process
simple and consolidated, for all brothers and sisters who are fortunate to be
worthy of paying Zakat. If there are
any errors, its purely due to my incomprehension and may be brought to my
notice immdtly by email at ajameel@yahoo.com. This is also available
online at http://zakat.110mb.com/ . Please remember me in your supplications and may Allah give
us all the rewards of both worlds. Aameen. |
| | A lot of
brothers have asked me what Madhab do I belong and whether this covers Shias,
Barelvis, Jaffris, Bohras and other sects.
All I can say here is that let us rise above all these covert little
shells we have built around us. We are Muslims first and if one is sincere,
he will rise above all this secterianism, read the Quran himself and get the
facts firsthand. The practical life of our Prophet SAS is there to be
followed and practiced. And pray to Allah that he show us and keep us on the
right path. Aaameen. |
| | Yours Brother in
Islam, Arif
Jameel. | | | | |
| | | | | | |
| | | | | | |
| | Details of Each Section to be used in conjunction with the
Calculation Spreadsheet. |
| | Zakat on
Pure Gold and Gold Jewellery |
| | Zakat
should be calculated at 2.5% of the market value as on the date of valuation
(In our case we consider 1st of Ramadhan).
Most Ulema favour the Market Value prevailing as on the date of
Calculation and not the purchase price. |
| | Zakat on
Precious and Semi-Precious Stones |
| | There is
considerable contention on whether these are to be considered for
valuation. In my humble opinion if
they have a value, then they calculate towards your wealth, and it is on the
wealth that Zakat is mandatory.
However please consult with Ulema, before acting on this section. Most
Ulema contend that a diamond is a piece of carbon and its value varies,
unlike that of gold or silver. |
| | One may
calculate the Saleable Value of Items-at-hand on the date of Zakat
Calculation. |
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| | Zakat on
Silver. |
| | Zakat is to
be paid on Silver in Pure form or Jewellery, Utensils, Decorative items and
all household items including crockery, cutlery made of silver at 2.5% of the
prevailing market rates. |
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| | Zakat on
Cash and Bank Balances |
| | Zakat
should be paid at 2.5% on all cash balance and bank balances in your savings,
current or FD accounts. The amount technically should be in the bank for one
year. Usually it happens that the
balance keeps on changing as per personal requirements. |
| | You may
make your best judgement and the best way is to pay on remaining amount on
the day of calculation |
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| | Zakat on
Loans Given, Funds, etc |
| | Zakat is payable by
you on loans you have given to your friends and relatives. It should be treated as Cash in Hand. You may deduct Loans Payable by you to
arrive at the nett present value of your wealth. However, if you are in doubt, on the return
of your money, then you may not calculate it as your wealth. You can add it to your wealth, if and when
your receive your money. |
| | Zakat
is payable on all Govt Bonds, Public Sector Bond, paid-up Insurance premiums,
your paid-up portion of Provident Funds, Govt Bills receivables, etc. Pls remember you need to be aware of what
the sharia says about Insurance and other types of investments. It is outside the scope of this Zakath
Calculator. |
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| | Zakat on
Landed Property |
| | Zakat is not payable
on personal residential House even if you have more than one and meant for
residential purpose only. Also Zakat
is not applicable on the value of Property given on rent irrespective of how
many. However Zakat is payable on the rental income itself after deducting
the maintenance and other expenses. |
| | However if your
intention of holding properties is to sell at a future date for a profit or
as an investment, then Zakat is payable on the Market Value of the
property. Also, if your intention of
holding properties changes in the current year, i.e. from self use to
business then you need to pay Zakat on that Property Value. |
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| | Zakat on
Business: |
| | This is for Business
Persons only. No matter what business you are into, you've got to pay Zakat
on all STOCK-IN-TRADE. The stock must
be valued at its Landed Cost Price. If you have any bills receivable (sales given on credit)
then you need to add the same towards calculations. |
| | Deduct
the Amounts due to your suppliers and deduct the loans on stock on the date
of calculation. Dead Stock should be
calculated on scrap value or its saleable value. Damaged stock should also be valued at its
scrap value. |
| | Be
honest in the calculations, as ZAKAT is an INSURANCE on your STOCK directly
from ALLAH and who better an insurer than Him. |
| | There is no Zakat on
Factory Buildings or any kind of machinery, but there is zakat on products
produced in the factory (i.e. finished goods value). Please refer to competent Ulema or a
scholar who can shed more light on your specific issues. |
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| | Zakat on
Partnership Firms. |
| | Zakat can be paid
EITHER by the firm OR separately by the owners. If the firm is not paying, and the partner
wants to calculate his share, he should take the amount standing to his
capital and loan account as per the last balance sheet. Add his estimated
share of profit till the date zakat is calculated. |
| | This can only be
estimated as it is difficult to calculate the exact profit or loss between an
accounting year. |
| | Zakat on
Agricultural Product |
| | Zakat is payable on
all Agricultural produce including fruits, commercially grown flowers,
vegetables and all types of grains at the harvest time itself. The passing of One year does not apply for
agrultural produce. If there are two
or more crops on the same land per year, then Zakat has to be paid as many
times on the crop, irrespective of the time. |
| | The Consensus formula
for Zakat calculation on Agriculture is as follows: |
| | On
crops dependent purely on rain water it will be 10% of produce, On crops not irrigated through rain water
but use Canal Water, Tank Water, Borewell and Open wells, the Zakat is 5% of
the produce. For Crops dependent
partly on Rain Water and partly on other water, the Zakat applicable would be
7.5% of produce. |
| | Zakat on
Animals |
| | On all grazing
animals like goats, sheep, camel, cows, broiler chickens, the consensus Zakat
payable is one animal/bird for every 40 animals owned. However you may wish
to give cash in lieu of the animal/bird itself. |
| | Please consult your
local Scholar or Maulvi or Imaam who can guide you to the right direction, or
refer to books of Fiqh if you would like to have first hand confirmation of
the situation. |
| | Liabilities
Deductions |
| | If you have any pending tax payable to the
govt, as of the date of Zakat Calculation, then the same may be deducted
before arriving at the net worth. If
you have taken any loans from any person or institution, and if you have not
already deducted the same from any of the above sections, then you can deduct
your Payables over here. Please be
truthful, as Zakat is a sure way of protecting ones wealth if Zakat has been
paid on it regularly and fully. |
| | LOANS taken only for
Zakatable-Wealth should be deducted. Cars, Houses, etc are not Zakatable
wealth. So any loan/mortgate taken for these purposes are not to be deducted |
| | FOOTNOTE: Please note that RIBA in any form is Haram
and strictly prohibited. So please
stay away from taking Loans on Interests AND Collection of Interests from any
body or institution or other forms of RIBA'. |
| | For those who would
like more details you may visit the FAQ section of zakat.110mb.com |
| | COPYRIGHT
NOTICE: You are free to distribute
this Calculator, by email, by print or by posts over the Internet. My intention in creating this was to make
the task of Zakat as simple and easy as the act of Zakat itself. However if you are making any modifications
or changes please keep me informed. |
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