Different Ways Zakat Can Be Calculated

Different Ways Zakat Can Be Calculated

Different Ways Zakat Can Be Calculated

Introduction

Every Islamic year, a Muslim faces a challenging task. Calculation of zakat. Yes, that is right. We don’t think any Muslim who must pay zakat worries too much about the amount he or she has to pay. Rather, it is the calculation that can boggle the minds of many. And yet, we cannot understand why this is continuing to happen, even in the 21st century! We mean to say, you don’t even have to do the numbers by yourself anymore. All that you have to do is input the values. But despite this, zakat calculation methods continue to be a hot topic, especially around the time of Ramadan. Well, the time has come for us to settle this debate, once and for all. In this discussion, we do nothing but discuss zakat and different ways in which it can be calculated.

Why zakat matters?

A little recap won’t hurt, would it? The reason why zakat holds such a pivotal place in the Islamic financial system is that it is effective. There doesn’t exist a better financial system than zakat, which can circulate the wealth in society. The moment money starts exchanging hands, a lot of issues get resolved automatically. Social class difference minimizes as the gap between the rich and the poor reduces a bit. Needless to mention but the number of people depending on zakat money is staggering every year. This amount that doesn’t seem like a lot to many is the reason why many families have won the war of poverty and are still thrashing about on this world!

Types of zakat

We thought it prudent to mention different types of zakat here, just for the sake of clarity when we discuss the zakat calculation methods. There is the general zakat that must be paid annually, and then there is the zakat al fitr. This is the type of zakat which must be paid before Eid prayer. In contrast to zakat al-mal, the amount paid in zakat al fitr is lesser. It follows logically that the calculation methods for both types of zakat will be different. So in the next few lines, we are going to have a look at the calculation methods for both types, separately.

Zakat-al-fitr calculation method

The calculating metric for zakat al fitr has been designed by the Prophet Muhammad (PBUH). Here, one must understand the concept of SA’. A SA’ can be best interpreted as double handfuls. A SA’ of barley or dried dates ought to do the trick, and for each family member, the total number of SA’s can be calculated this way. It is prudent to mention here that zakat al fitr these days are paid in terms of cash normally. The amount is equal to the price of the total number of SA’s.

Zakat al-mal calculation methods

This zakat money is 2.5 percent of your assets that are to be considered in the Zakat calculation. Much easier to understand but rather complex to calculate, this zakat must be paid annually. Muslims all over the world can pay this zakat money at any time of the year. However, Ramadan seems to be the busiest month as far as the payment of zakat al-mal goes. You can calculate zakat al-mal either manually by doing sums and subtractions, or you can use an online zakat calculator as well.

Use Transparent Hands Zakat calculator

One such zakat calculator that you can use online is the Transparent Hands zakat calculator. Ah, but you haven’t heard of the Transparent Hands! Let us introduce you!

When it comes to crowdfunding for health, there is no platform bigger than Transparent Hands in Pakistan. The range of healthcare services offered by Transparent Hands is astoundingly vast. From medical and surgical treatments to medical camps and telehealth facilities, the NGO makes sure that the underprivileged Pakistanis have access to quality healthcare services. The NGO believes in creating a patient-donor bond while making sure that the protocols of transparency aren’t breached at any point. The NGO realizes the need for free medical camps in the rural areas, hence it actively sets up such camps as well. To donate, donors can log in to the Transparent Hands crowdfunding web portal from anywhere in the world. Payment modes are one hundred percent secure. Every donor has absolute freedom in selecting and funding patients of their choice. The NGO makes sure that regular updates until complete recovery are sent to the concerned donor.

Conclusion

Calculating Zakat accurately can be a bit challenging at times. If you err and end up paying less than what you are supposed to pay, the spiritual consequences can be dire. So, this year, use the Transparent Hands zakat calculator to avoid any slip-ups!

Read More: How Zakat Is Distributed