How to calculate Zakat in 2023 according Islamic laws

Zakat- Zakat is the five pillars of Islam. Islam has the five pillars which are faith, prayer, Ramadan, Zakat and Hajj so Zakat is the 4th pillar of Islam which implement on Muslims who have a huge quantity of Gold, Silver, property, and many other things in a lunar year which will be discussed in this article. The purpose of Zakat is to donate some part of money to needy and poor people. Zakat is obligatory on every Muslims who have sound mind and able to pay Zakat.


Zakat on gold per tola 2023 in Pakistan


Nisab- Nisab is the term which tell us the minimum amount of wealth and assets on which Zakat are implemented. A muslim will pay the zakat if their amount of wealth and assets according Nisab terms and conditions.

Rate of Zakat- Zakat will be paid 2.5% of cash and assets or 40th part of your wealth and assets. It will be implemented according the minimum criteria of Nisab or above the criteria of Nisab.

In this article we will give you detail that what is zakat, what is Nisab, how we can calculate zakat according Islamic laws and which persons are eligible for paying and taking Zakat.

Here we will tell you

• Assets included in Zakat

• Eligibility of Zakat as per Nisab

• Calculate Nisab for zakat

• How to calculate Zakat 

• Excluded liabilities from Zakat

• Recipients of Zakat

• FAQ (Frequently asked questions)

• Conclusion

Now we start the detail of these points, read it and get information. Hope so this article will be very beneficial and increase your knowledge.


Assets included in Zakat

First of all, we tell you which assets are included in zakat which list is given below

  1. Gold and Silver
  2. Cash and bank balance
  3. Vehicle- for personal use and for earning purpose
  4. Market share owned- for any purpose
  5. Rental property
  6. Precious and semi-precious stones
  7. Govt and public sector bonds
  8. Takaful policies
  9. Loans- given to friends and relatives

Here we give you a list of assets on which Zakat is implemented but which rate of zakat will be deducted on these assets will be discussed below.


Eligibility of Zakat as per Nisab

  • You will be eligible to pay zakat if you have
  • Gold= 7.5 Tola/3 ounces/ 87.48 Grams 
  • Silver= 52.5 Tola/21 ounces/612.36 Grams

If you have such quantity of gold and Silver held, then you will be eligible for zakat. In Pakistan and almost all countries of the world are not using Gold and Silver for buying and selling, so you need to convert the quantity of their assets in present currency rate and pay zakat according this currency rate.



Calculate Nisab of Zakat

There are two measurement of Nisab Gold and silver which detail was given below with an example

  • Rate of gold in Pakistan * 7.5 Tola/ 3 ounces/ 87.48 gram of gold= according Gold Nisab
  • Rate of Silver in Pakistan *52.5 Tola/ 21 ounces/ 612.36 Grams according Silver Nisab




Now we will tell you with an example that how you can calculate their Gold and Silver for zakat according Nisab.

  • Rate of gold in Pakistan * 7.5 Tola/ 3 ounces/ 87.48 gram of gold= according Gold Nisab
  • 99700 * 7.5 Tola = 747,750
  • Rate of Silver in Pakistan *52.5 Tola/ 21 ounces/ 612.36 Grams
  • 1274 * 52.5 Tola= 66,885



How to calculate Zakat

Here we will tell you how you can calculate Zakat on different things which are discussed below one by one

1. Zakat on Gold

2. Zakat on Silver

3. Zakat on precious stone

4. Zakat on bonds

5. Zakat on cash and bank balance

6. Zakat on loans

7. Zakat on rented property

Now we discuss the detail of these points which are given below


1.Zakat on Gold

To examine Zakat on Gold first you need to collect all quantity of Gold which you have and check their present market value, after that 2.5% zakat will be deducted from this total amount.

Formula for examine zakat on gold given below

Total worth of your Gold * 2.5%


For example 

  • If you have 7.5 tola Gold and now a days gold rate is 99700/tola then your gold worth is 747,750
  • Now we calculate Zakat on your net worth of Gold
  • 747,750 * 2.5% = 18694
  • Now you will pay 18694 RS zakat in Pakistani currency.


2.Zakat on Silver

The method to calculate zakat and Silver has the same and their exemption rate is 2.5% like

Total worth of your Silver * 2.5% = zakat amount


For example

  • You have 52.5 tola silver and one tola silver worth is 1456. Then your silver total worth is 1456*52.5 = 76,440 
  • Now we will calculate zakat on your Silver
  • Total worth of Silver * 2.5%
  • 76,440 * 2.5% = 1,911
  • Now you will pay 1,911 Rs zakat on their gold in Pakistani rupees



3.Zakat on precious stone

If you have precious and semi-precious stones then you should pay zakat 2.5% according market rate.


4.Zakat on bonds

If you keeping bonds in their saving which crossing one lunar year this these bonds will be added in Zakat.



5.Zakat on cash and bank balance

If you have some savings in cash and bank and this amount was completed one funeral year then you will be pay zakat on this amount with 2.5% net worth.


6.Zakat on loan

If you given some amount as a loan to their family, friends and their loved ones then this amount will be added in your saving and will be included in Zakat term.

Well, if you take loan from any friend or family member then it will be exempted from zakat.


7.Zakat on rented property

If you given their property or house on rent and you receive rent continuously then this property net worth amount will be calculated in zakat list.



Rate of Zakat

you can calculate and find Zakat rate by different three ways which was given below

  • Net worth * 2.5% = Zakat amount
  • Net worth for Zakat * 0.025 = Zakat amount
  • Net worth40 = Zakat amount to be paid



Excluded liabilities from Zakat

Some things and liabilities are not included in zakat then these are exempted which list is given below

  • Utility bills and credit card bills
  • Any pending amount of rent or loan
  • Pending salary amount of their employees
  • If a person is non-muslim account holder
  • Formula for excluded liabilities from zakat
  • Net worth of assets – liabilities = net worth of zakat amount



Recipients of Zakat

you can give zakat needy and poor person’s which detail is given below

  1. Al-fuqra: the poor people who has low income and can’t fulfil their basic needs
  2. Al-Masakin: those people who in difficulty and deserve zakat funds
  3. Debt-ridden: which people want money to pay their debt
  4.  Zakat administrators: who running their institutions for helping needy people
  5. Muallafat-ul-Qulub: this term is related to needy and non-Muslims to attract Islam and give knowledge about loving things of Islam.
  6. Fir-Riqab: this term is related to slaves and given Zakat to their owner who agree to free their slaves in return of some payment.
  7. Ibn-us-Sabil: A person who needs a money to travel.

Basically, zakat is given to needy and poor people who have no any property, cannot fulfil their basic needs, low earning income or no source of income. But you cannot give Zakat their blood relations like parents, Grandparents, siblings and spouse and children.



FAQ (Frequently Asked Question)


1. How to calculate Zakat?

 First, you should have enough amount and assets to pay Zakat, then sum up of your cash and assets (Gold, Silver, rental property) and then calculate 2.5% amount of your net worth assets and cash.



2. How to calculate Zakat on Gold?

 To calculate Zakat on Gold first find the net worth of your Gold then take 2.5% of this amount, the remaining amount will be eligible for Zakat

for example

the example to calculate zakat on gold given above in detail.



3. who is eligible for taking Zakat?

or what are the rule of Zakat?

The poor and needy persona are eligible for Zakat who have no any property or their property can’t fulfil their basic needs. their blood relations are not eligible for taking Zakat like parents, grandparents, siblings, spouse and children.


4. How to calculate Zakat on Property?

If you have property which becomes their earning source of income and not their personal use, then this property will be implemented in Zakat term. then to calculate Zakat on their property first take net worth of this property and then calculate 2.5% of this amount. This amount will be Zakat amount.


5.When Zakat is paid monthly or annually?

Zakat can be paid any month, any time with in a year after exceeded amount of Nisab. the term to pay Zakat within a Ramadan is not correct.


Also Read:

Ramadan Pakistan Calendar 



in this article we give you complete detail about Zakat that how much assets and cash are cash are eligible for Zakat, how you can calculate Zakat, and complete detail about related to Zakat term. hope so this article will be very beneficial and helpful for you for understanding and calculate Zakat.

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