Zakat is an obligatory duty and one of the five pillars of Islam. It is mandatory when two conditions are simultaneously satisfied which are Nisab and the Due Date.
What is Nisab and its current value?
Nisab is the exemption limit for the payment of Zakat. In other words, it is the amount which savings or capital or product must exceed in order for the Muslim owner to be obliged to give zakat. Nisab amount calculated based on 3 oz of pure Gold which is $3,797 as of June 22, 2016.
When is Zakat due date?
Zakat is due after one Lunar (Hijri) year starting from either the first day you acquired the amount of Nisab or the day you paid Zakat last year. The month of Ramadan is considered to be the best time to pay Zakat.
Dear brother/sister click to calculate your Zakat now and to pay it as soon as possible.
Courtesy:IslamiCity
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