Zakat is an Ibadah which is financial in nature. Zakat is one of the five pillars of Islam. The essence of Zakat is to purify your wealth by giving a fixed amount to the poor yearly. Zakat is not a governmental thing and it was made at Makkah with the Salah. Allah says in the Qur’an about Zakat:
And be steadfast in prayer; give Zakat, and bow down your heads with those who bow down (in worship). (2: 43)
The translation of Arabic word Zakat is ‘purification’ and ‘growth’. We purify our possessions by paying Zakat and we are blessed with growth due to Zakat.
Why to give Zakat?
Giving Zakat is source of Barakah and those nation who do not pay Zakah, Allah bring scarce to them even from basic necessities of life. Prophet (s.a.w) said: “The persons on whom Allah has bestowed wealth, and he does not give Zakaat, on the Day of Qiyaamah, his wealth will be turned into a venomous bald serpent which will wind around his neck and bite his jaws and say, “I am your wealth, I am your treasure.” (Bukhari)
Zakaat is the source of seeking Allah’s pleasure, protection from trials and losses, increase in wealth, safety from catastrophes and a protection against Jahannum.
To whom Zakat should be given?
Allah (s.w.t) has clearly told categories in Surah At-Tawbah, verse no. 60: Alms are for the poor and the needy, and those employed to administer the (funds); for those whose hearts have been (recently) reconciled (to Truth); for those in bondage and in debt; in the cause of Allah; and for the wayfarer: (thus is it) ordained by Allah and Allah is full of knowledge and wisdom.
When Zakaat becomes obligatory?
Giving Zakaat is obligatory on adult, free Muslim whose wealth reached the limit of Nisaab. Nisaab means the certain amount of wealth in possession of a person which makes him/her liable for giving Zakat.
Zakat is calculated for other things like money, bonds, stock and other cash assets by equivalent amount of gold and silver. For example, if you have this much money saved with you in which you can buy 7.5 tolas gold then you must pay Zakat at the rate of 2.5%.
Zakat is on the wealth which is fully owned by a person himself/herself and it is other than his regular basic needs of household (clothing, eating, car etc.). One has to pay Zakat yearly and the one who denies it is a sinner and transgressor.
What time of the year is suitable for giving Zakat?
One should not delay the alms-giving or Zakat even when year has been completed because death has no time.
Zakat must be paid as immediately on completion of one hijri year as Allah says in the Qur’an: “
Race with one another in hastening towards forgiveness from your Lord (Allaah), and Paradise the width whereof is as the width of the heaven and the earth”
Zakat can be given in any month as it is an obligation but if given in Ramadan, the reward will increase by manifold as in Ramadan reward of giving charity (obligatory or voluntary) rises than usual. Read more about DO YOU KNOW ABOUT ZAKAT-UL-FITAR?? READ HERE
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