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Note 1] The Quran does not provide specific guidelines on which types of wealth are taxable under the zakat, nor how much is to be donated, and Islamic scholars differ on how much nisab is and other aspects of zakat. [16] However, the amount of zakat paid on capital assets (e.g. money) and stock-in-trade and jewelry is customarily 2.5% (1/40). [8]
A considerable number of Muslims accept their duty to pay zakat, but deny that the state has a right to levy it, and they may pay zakat voluntarily while evading official collection. [84] In discretion-based systems of collection, studies suggest zakat is collected from and paid only by a fraction of Muslim population who can pay. [18]
Outlined in this verse are the 8 categories where Zakat is eligible. [ 2 ] jizya - a per capita yearly tax historically levied by Islamic states on certain non-Muslim subjects— dhimmis —permanently residing in Muslim lands under Islamic law , the tax excluded the poor, women, children and the elderly.
There are five principles that should be followed when giving the zakāt: The giver must declare to God his intention to give the zakāt. The zakāt must be paid on the day that it is due. After the offering, the payer must not exaggerate on spending his money more than usual means. Payment must be in kind.
However, it can be paid prior to this period. Some of the Sahabah (companions of Muhammad) paid it a couple days before Eid al-Fitr. The amount of Zakat is the same for everyone regardless of their income: the minimum amount is one sa` (four double handfuls) of food, grain or dried fruit for each member of the family, or an equivalent amount of ...
The Sindh Zakat Council Chairman said that the Zakat money should be given to all needy without discriminating on the basis of religion. [10] The Zakat collection is based on Islamic Sharieh principles, so this amount should also be paid on that on the said principles.
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The Quranists give zakat based on the Quranic verses. In the opinion of many Quranists, zakat must be paid, but the Quran does not specify a percentage because it does not appear explicitly in the Quran. [44] Other Quranists are in agreement with the 2.5 percent, but do not give the zakat annually, but from all money they earn. [45]
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