Ref no: 0400#
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Date: Tuesday , October 4, 2011 |
Category
Zakaat
Title
I have gold and silver jewellery
Question
I have gold and silver jewellery to the value of R12,000 and a liability of R28,000. Do I have to pay Zakaat on the gold and silver Jewellery?
Answer
Muhtaram / Muhtaramah
In the Name of Allāh, the Most Gracious, the Most Merciful.
As-salāmu ‘alaykum wa-rahmatullāh wa-barakātuh.
If you have other Zakaatable assets besides the gold and silver jewellery, its value should be added to the value of the gold and silver jewellery as well. If the liability of R28,000.00 exceeds the value of the assets there is no Zakaat. However, if there is an excess which is equivalent or more than the nisaab amount, Zakaat will be payable on the excess only.
And Allah knows best
Darul Iftaa
Madrasah Inaa’miyyah
· The Sharée ruling herein given is specifically based on the question posed and should be read in conjunction with the question.
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