Zakat Calculator-An Easy Way Of Zakat Estimation

Zakat calculator helps you to figure out the amount you are supposed to pay according to the latest nisab. Enter your assets and liabilities details and calculate your zakat for the year.

Taxconsultancy is focused on providing ease in zakat calculation. We facilitate our customers in zakat calculating everything, whether gold, silver, diamond, cash or any other saving.

Let's have a look at an easy-to-use calculator. It will help you evaluate your wealth according to nisab and give.

Calculate Your Zakat

Trade goods

Liabilities

Total assets £0.00
Zakat payable £0.00

Zakat Calculator For The Wealth You Have

Zakat is the obligation and charity that Muslims must pay once they have total wealth equal to or more than nisab. Nisab is the specified amount of capital that makes Muslims eligible for zakat. It is 87.48 grams (7.5 tolas) of gold and 612.36 grams (52.5 tolas) of silver. Another important condition for zakat eligibility has this mentioned wealth for one year.

Keep in mind zakat is 2.5% or 1/40 of the wealth above the nisab saved for one year

People try to calculate zakat on their own but usually get stuck. They take help from ulemas and other professionals. We have made this entire process very easy for you. Our zakat calculator will vanish away all your worries. We provide payable zakat values according to the latest rates.

Utilize Zakat Calculator For All Assests And Liabilities

People save and invest their money differently. Whatever the means of saving, you must pay zakat yearly if you fulfil the nisab criteria. However, zakat is calculated differently for different investments. Let’s study how to find it out:

  • Zakat On Pure Gold & Silver

    Zakat on pure gold and silver is calculated as 2.5% of the current market value. Most ulemas highlight this calculation should be according to the current price, not the purchase price. Pure gold and silver will be considered in any form for zakat evaluation, whether it is jewellery, decorative item, crockery, cutlery, or other household items.

  • Zakat On Precious And Semi-Precious Stones

    Suppose you have some precious stones that you purchased for commercial purposes and are saleable now. Zakat will be obliged for it. Besides, any other precious item will be considered in the zakat evaluation.

  • Zakat on Cash and Bank Balances

    2.5% of zakat is obliged on total cash saved for one whole year. It can be cash and bank balances in your savings, current, or FD accounts. Cash can also be business investments, shares, saving certificates, and pensions funded by money in one’s possession.

  • Zakat On Pure Gold & Silver

    Zakat on pure gold and silver is calculated as 2.5% of the current market value. Most ulemas highlight this calculation should be according to the current price, not the purchase price. Pure gold and silver will be considered in any form for zakat evaluation, whether it is jewellery, decorative item, crockery, cutlery, or other household items.

  • Zakat on Loans Given, Funds, etc

    You are responsible for paying zakat on any debts you have granted to friends and family members. Consider it to be cash in hand. Your Loans Payable may be subtracted from the Present Net Value of Your Assets. If you are uncertain about the return on your investment, you should not count it toward your wealth. But if and when you receive your money, you can retroactively add it to your fortune.

    All government bonds, public sector bonds, the cash value of takaful policies, your paid-up share of the BC/Committee (Bachat/voluntary contribution) that has not yet been received, government bill receivables, etc., are all subject to zakat payment.

    Remember that you must know what the sharia says regarding insurance and other investments. This Zakath Calculator cannot be used to calculate it.

  • Zakat on Landed Property

    Zakat is not payable on a personal residential House, even if you have more than one, and is meant for residential purposes only. Also, Zakat does not apply to the value of Property given on rent, irrespective of how much. However, Zakat is payable on the rental income itself, which remains till the date of Zakat.

    However, if your intention of holding properties is to sell for a profit or as an investment, then Zakat is payable on the Property's Market Value on the Zakat date.

Use Our Zakat Calculator For Quick And Reliable Findings

Paying zakat is obligatory for all wealthy Muslims in Islam. But worried about the calculation of zakat you have to pay this year? Simply, know how to calculate zakat, add your wealth details to our handy and helpful zakat calculator tool, and get your zakat amount specified in a few minutes. If you still find it confusing, contact our team. Our experts will provide zakat calculation according to your wealth and proper consultation.

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