Is zakah for money paid every year or only once?
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Submitted by on Fri, 05/04/2024 - 12:44
The Answer
Dear Brother / Sister,
It is necessary to pay zakah at a rate of one-fortieth (1/40) every year. If money is kept for three years, it is necessary to pay zakah three times.
If money is kept all the time, zakah will eat it away. From this point of view, one of the wisdoms behind zakah is to prevent money from being under the mattress saving and to revive the economy.
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SIMILAR QUESTIONS
- How is zakah for a house, plot of land and construction calculated? I am a builder. How should I calculate my earnings and give zakah? I construct apartment buildings and sell flats.
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- When is zakah paid? Will you give detailed information about when to give zakah?
- How can I calculate zakath on deposited money in Islamic bank?
- zakaat in monies put into a business
- Is it necessary to pay zakah for a field, plot of land and house?
- For whom is Zakah fard? Will you give information about the ways of giving zakah, conditions for being liable to pay zakah, the time to give zakah and to whom to give zakah?
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