Hypothetical Zakat Question

[Tabassum07]

:salam2:

If someone has cash enough to be nisaab, and they have some gold/silver but the gold/silver doesn't reach the nisaab value, does that person pay zakah on the Cash and gold/silver both? Or just the cash?

 

[Tabassum07]

Anybody?..........

 

[thariq2005]

Wa `alaykum salaam wa rahmatullah

If the zakaah of the cash is based on the nisaab of Silver (which at the moment is the lower of the two, i.e. gold and silver), then in this case you would add silver along with the cash- and if both of them together reach 595 grams, you would give zakaah.

If the value of gold turns out to be lesser than silver, then you would add the cash with the gold and if it reaches the nisaab (85 grams), then you would give zakaah.

You should not combine between gold and silver, in order to give zakaah. The zakaah for gold should be separate and the zakaah for silver should be separate- just like how zakaah for camels are given separately and the zakaah of cows are given separately.

I hope that cleared your doubt.

Wassalamu `alaykum

 

[Tabassum07]

:salam2:

No actually, it only created more doubts, akhi, sorry.

Okay, let's try to explain it using random numbers. For example, say somebody has a large sum of moeny... say $15,000. This would be nisaab.

And then they have 30 grams of silver and 20 grams of gold. So how do they calculate that zakah?

So 2.5% of the 15,000 = $375. But then will they even calculate and pay the zakah for the gold/silver or would their yearly zakah just be $375.

 

[thariq2005]

Wa `alaykum salam wa rahmatullah

Apologies for the confusion.

Okay you said that $15,000. And this has reached the level of Nisab. The Nisab for currency is based on the Nisab value of Gold or silver (lower of the two), which is 85 grams for Gold and 595 grams for Silver.

So let's say that the value of 595 grams of Silver is $550 and the value of 85 grams of Gold is $2500. We take Silver (since it is the lower of the two) and once you reach $550 or over, and you fulfill the other conditions of Zakah (i.e. your money did not drop below Nisab level for a whole year and you had complete ownership of it)- then zakah is due on you at the end of the Lunar year.

If it so happens that you based the nisab value of your currency on the Nisab value of Silver, then you add that 30 grams of Silver along with your $15,000 and NOT the gold. If it happens that you based your nisab value of your currency on the nisab value of Gold, then you add 20 grams of gold along with your £15,000 and NOT the silver.

So, based on the example I gave (where the Nisab value of Silver is lower), then you will give 2.5% of ($15,000 + 30 grams of Silver).