Zakat Calculator

Zakat is a financial act of worship. Distributing a certain portion of one’s wealth to the poor and needy is called Zakat. It is as important an act of worship as prayer and fasting. Zakat is one of the pillars of Islam. Zakat has been repeatedly urged in the Qur’an and Hadith. The provision of Zakat is inspired by the irrefutable evidence of the Qur’an and Hadith.

Zakat is obligatory on all Muslim men and women who own Nisab amount of wealth. If one full lunar year has passed since a person acquired the Nisab amount of wealth, he must pay Zakat for the previous year. 

Many don’t even know if zakat is Faraz upon them. Also, some can’t calculate the amount. So today, we have written an article about them. Here we have discussed the Zakat Calculator in Bangladeshi taka. So if you want to know more, read this article.

Zakat Calculator BD

Personal Zakat Organizational Zakat

Who is eligible for zakat?

First, we must understand what it is before we know who is eligible for Zakat.

Zakat is the practice of donating to the poor and needy every year a specified part of every free, adult Muslim man and woman's income and property that exceeds the limit (nisab of zakat ) stipulated by Islamic Shari'ah. 

A person's Nisab is the minimum amount of wealth they must possess after completing one lunar year on which Zakat is required. Zakat applies to the following assets: cash, gold, silver, all commercial goods, livestock, and certain agricultural products.

According to Islamic law, Zakat can be given to eight types of people.

1. Poor Muslims

If he has less than what he needs to sustain life.

2. The Needy

He does not have what he needs to sustain life or just a little

3. Administers Zakat Fund

Zakat collector Amel for the state treasury of an Islamic state.

4. To free the enslaved person:

Freeing the enslaved people, freeing those arrested by the enemy, etc.

5. Attract non-Muslims.

 Zakat money can be spent on non-Muslims or infidels to attract them to Islam.

6. A person in debt

The poor who have incurred debts and cannot repay them can be helped with Zakat money.

7. In the way of Allah,

You can give your zakat money in the name of Allah. Can be given to orphanages. 

8. Travelers

A traveler has become financially vulnerable or helpless while traveling.

How do you calculate zakat?

  • If a person has seven and a half gold or fifty-two and a half silver or this amount of wealth, he has to pay Zakat. The rule of giving zakat is that if you have a nisab amount of wealth or more than 1% of 40th of the total wealth should be given as zakat. If you have 60,000 takas, 40 percent of it, i.e., 1,500 takas, should be given as Zakat.
  • Zakat is calculated according to the lunar calendar. Zakat should begin when one owns a Neshaab amount of money/wealth.
  • The gold and silver will be counted as gold and silver if they contain an admixture of bronze, color, zinc, copper, etc.
  • Zakat is calculated by taking into account the market rate at the time of obligation and the price of the location where the gold, silver, and so on are held at the time of obligation.
  • If you want to pay zakat in a solar year, your zakat amount will increase from 2.5 percent to 2.58 percent. You must pay Zakat on your land, savings, crops, cars, cash, flats, and plots. One-fortieth part of all this wealth should be delivered by you every year among the poor in a certain lunar or solar year.
  • The crops must be in your possession for one lunar year; in this case, you can say from the last Ramadan to this month of Ramadan.
  • Business products mean the goods or things traded, such as goods, land, vehicles, and other business items bought and sold. Zakat should be paid on camels, cows, and goats. Apart from these animals, there is no mention of Zakat on other animals in the hadith.
SubjectNisab (total amount of money)Zakat rate
Gold, silverGold 7.5 Tolas and Silver 52.5 tola2.5% of the total cost
Cash, bank deposit,AndBusiness productsEqual to 52.5 Tolas of silver.
2.5% of full value
Agricultural productsAny amount;10% of rainfed produce.

How to calculate zakat on gold in grams 

If a person has seven and a half gold ornaments and is not in debt. Zakat must be paid for all those ornaments, regardless of whether they are worn. If the woman owns ornaments worth that much in this situation, she will be required to pay Zakat.

If there is only gold worth seven and a half hours or 85 grams or more, 2.5 percent of the market value of this gold must be taken out, and zakat paid. 

How to calculate zakat on salary? 

The acquisition of wealth through good faith is halal. The salary job earners receive each month determines how they live their daily lives. The money is often used to buy cars and houses and save in the bank. Zakat must be paid if a person's savings equal the amount of nesab added to other assets.

When calculating your zakat, it's especially important to consider if your pay fluctuates and you don't get paid the same amount every month. You must know how much you spend and can save over the year since this will determine how much Zakat you must pay. 

It is necessary to donate a set amount to the underprivileged (often 2.5%). If zakat is paid for in greater amounts, it will benefit the underprivileged and needy more.

Benefits of zakat & Zakat calculator

Zakat Benefits

  • One of the benefits of zakat is that zakat strengthens the bond of love between the rich and the poor.
  • Another benefit of Zakat is that Zakat purifies and purifies the soul.
  • Another benefit of Zakat is that it accustoms and qualifies a Muslim to show kindness, grace and compassion to the needy and the poor.
  • Giving zakat means getting blessings from Allah, increasing wealth and rewards.

Zakat calculator benefits

  • Through the zakat calculator, the correct amount of zakat can be collected without hassle.
  • The Zakat calculator can be used to calculate the amount of zakat due on various assets such as real estate, cars, gold, stocks, etc.
  • It helps in keeping track of your donations and making tax-deductible contributions.
  • The Zakat calculator can also determine the amount of zakat due on a particular income.

Conclusion

Every Muslim has to pay Zakat on almost all goods, including money, gold and silver, cows, buffaloes, goats, sheep, camels, crops produced on land, underground treasures, minerals, and money deposited in banks, share bonds, etc. So if Zakat is obligated to you and your family, you must know about the zakat calculator bd, zakat rules, and percentages. Above, we have discussed details on this topic. We hope you will get benefit from it.

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