Zakat or Zakah is an alms-tax or obligatory tax to be paid by Muslims to the poor and needy. It is the third pillar out of the five pillars of Islam. The Quran mentions Zakat many times along with Salat (prayer) to emphasize the importance of Zakat. Every Muslim who possesses a Zakat payable amount (Nisab) for one lunar year has to pay 2.5% of the Nisab.
وَأَقِيمُواْ ٱلصَّلَوٰةَ وَءَاتُواْ ٱلزَّڪَوٰةَۚ وَمَا تُقَدِّمُواْ لِأَنفُسِكُم مِّنۡ خَيۡرٍ۬ تَجِدُوهُ عِندَ ٱللَّهِۗ إِنَّ ٱللَّهَ بِمَا تَعۡمَلُونَ بَصِيرٌ۬
Establish prayer, and pay alms-tax. Whatever good you send forth for yourselves, you will ˹certainly˺ find ˹its reward˺ with Allah. Surely Allah is All-Seeing of what you do. (Quran 2:110)
Prophet Muhammad (ﷺ) said:
Islam is based on (the following) five (principles):
1. To testify that none has the right to be worshipped but Allah and Muhammad is Allah’s Messenger (ﷺ).
2. To offer the (compulsory congregational) prayers dutifully and perfectly.
3. To pay Zakat (i.e. obligatory charity).
4. To perform Hajj. (i.e. Pilgrimage to Mecca)
5. To observe fast during the month of Ramadan.
In an authentic hadith (Sahih Muslim), the Prophet (peace be upon him) said to his Companion Mu`adh, when he was sent to Yemen as governor, “Tell them that Allah has made Zakat obligatory for them, that it should be collected from the rich and distributed among the poor.”
Literally Zakat means blessing, purification, increase and goodness. It is so called as it blesses the wealth from which it is taken and protects it from misfortunes. Ibn Taimiah said, “The soul of one who gives Zakat is blessed and so is his wealth.”
Download Zakat Calculator (.XLS / MS-Excel File)
If you are finding it difficult to know how to calculate the Zakat amount, you can do it easily with the following Zakat Worksheet (.xls File). Open this Zakat Calculator worksheet in MS Excel or Google Sheets o any other worksheets software. Just enter your asset values under each heads and the Zakat payable amount will be calculated right away!
Download Link: OneDrive
(click the above link to open OneDrive, right-click on “Zakat Calculator” file and choose Download.)
Zakat Calculator source: www.jmtsa.co.za
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