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The gold considered in determining the Zakat threshold is 24 karats because 21, 18, and other karats are not pure gold; they are mixed with other metals and alloys. If someone has gold of another karat, such as 22, 21, 18, 14, 10, or any other, Zakat is obligatory only on the pure part of it. [28]
In Pakistan Zakat is levied on sahib-e-nisab, i.e. a person who owns or possesses assets liable to Zakat under Shariah equal to or more than nisab, (about US $300, calculated according to the value of 612.32 grams of silver [6]). [1] There are eleven types of assets liable to Zakat "detailed in 1st schedule of Zakat & Ushr Ordinance 1980". [7]
The Hanafi school is unique in extending zakat to horses under certain conditions. When it is applicable, there is no nisab and one mithqal is to be paid for each horse. [9] Someone who owns fewer animals than the above nisab is not obliged to pay zakat. Also, the nisab of one kind of animals is not to be mixed with another.
Zakat spending as per Holy Quran on 8 categories of people Silver or gold coinage is one way of granting zakat. Zakat (or Zakāh) is one of the five pillars of Islam. Zakat is the Arabic word for "Giving to Charity" or "Giving to the Needy". [a] [3] Zakat is a form of almsgiving, often collected by the Muslim Ummah. [1]
The word sadaqa is interchangeably used with zakat and nafaqa in some contexts, [3] but while zakat is obligatory, sadaqa usually refers to voluntary donations. [ 1 ] Zakat is a required minimum contribution by Muslims in terms of money and property or goods that can help Muslims who need assistance, while sadaqah can be in the form of money ...
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ushr - a 10% tax on the harvests of irrigated land and 10% tax on harvest from rain-watered land and 5% on Land dependent on well water. [2] The term has also been used for a 10% tax on merchandise imported from states that taxed the Muslims on their products. [6] Caliph `Umar ibn Al-Khattāb was the first Muslim ruler to levy ushr. [citation ...
The General Authority of Zakat, Tax, and Customs (ZATCA) (Arabic: هيئة الزكاة والضريبة والجمارك) is a government agency under the Ministry of Finance in Saudi Arabia that is responsible for the assessment and collection of taxes and zakat, a form of obligatory almsgiving in Islam.