103-zakatcalc
 Share
The version of the browser you are using is no longer supported. Please upgrade to a supported browser.Dismiss

 
View only
 
 
Still loading...
ABCDEF
1
Zakat Calculator Ver -2005
2
(Use Only YELLOW cells to fill Values. Please read the Summary for details, before filling this)
3
Weight in GramsPrice/GmEstimated ValueZakat Payable
4
1ZAKAT ON GOLD (2.5%)
5
1a24 Carat Gold/Jewelry00.00
6
1b22 Carat Gold/Jewelery00.00
7
1c18 Carat Gold/Jewelry00.00
8
1dOther Gold Valuables. (Pls insert the Current Estimated Value)0.00
9
10
2ZAKAT ON PRECIOUS STONES (2.5%)(Contentious subject. Refer Notes. Don’t Calculate if you disagree or are uncomfortable.)
11
Calculate the nett Market Value of the Precious stones like Diamonds, Rubies, Etc. and add them to the Estimated Value Column0.00
12
13
3ZAKAT ON SILVER (2.5%)
14
Include Household Silver Utensils, Artefacts, and Jewelery. For Utensils, usually the silver is 90% pure so take 90% of the total weight0.000.00
15
16
4ZAKAT ON CASH IN HAND /BANK (2.5%)Actual Value
17
4aCash in Hand0.00
18
4bCash in Bank in Savings Accounts0.00
19
4cCash in Bank in Current Accounts0.00
20
4dCash held in Fixed Deposits0.00
21
22
5ZAKAT ON LOANS / INVESTMENTS/ FUNDS/ SHARES, ETC (2.5%)Actual Value
23
5aLoans Receivable from Friends and Relatives0.00
24
5bInvestment in Govt Bonds0.00
25
5cProvident Fund Contribution to date.0.00
26
5dInsurance Premiums including bonus up to date0.00
27
5eValue of Shares (stocks) including Dividends. Take their market value on the date of calculation0.00
28
5fGovernment Security Deposits, ADRs, etc0.00
29
5gInvestment in Private Chits, Funds, etc0.00
30
5fOther Sources of Wealth0.00
31
32
6ZAKAT ON LANDED PROPERTY (2.5%)Estimate Value
33
6aLanded Property held as an Investment / Business (Estimate the current Maket Value)0.00
34
6bZakat on Rentals Coming from Property (After Deducting for all expenses)0.00
35
7ZAKAT ON BUSINESS (2.5%) ----------(STOCK-IN-TRADE)
36
7aValue of Saleable Stock
37
7bValue of Damaged / Dead Stock
38
7cAmount Receivable from Credit Sales
39
7dLESS: Amount Payable to Suppliers (Credit taken from suppliers for stocking goods)
40
7eLESS: Bad Debts
41
TOTAL VALUE OF STOCK ( 7a+7b+7C-7d-7e)00.00
42
43
8ZAKAT ON SHARE IN PARTNERSHIP FIRMS (2.5%)
44
8aCapital Balance as per Last balance Sheet
45
8bLoans Advanced by you to the Firm as of Date
46
8cLESS: Withdrawals made by you during the current Year.
47
8dAccumulated Profit from the date of Balance Sheet to this Date (Estimate the Profit Value as it is difficult to get exact figures in the middle of Accounting Year)
48
NETT TOTAL WORTH CALCULATED00.00
49
50
9ZAKAT ON AGRICULTURAL PRODUCE (10%, 7.5%, 5%)Value of Produce
51
9aProduce Dependent on Rain Water - @ 10% of product (crop) in Value or Kind0.00
52
9bProduce totally dependent on Artificial Irrigation like Canal, Tank, Borewell, etc. @ 5% of Produce (crop) in Value or in Kind0.00
53
9cProduce dependent Partially on Rain Water and Partially on Artificial Irrigation @ 7.5% of the produce Value or in Kind0.00
54
55
10ZAKAT ON ANIMALS & POULTRY & FISH FARMINGTotal Value
56
Animals/ Birds more than 6 months Old - @ 1 Animal or Bird PER 40 either in Kind or Value thereof.0.00
57
58
11GENERAL LIABILITIES - You need to deduct your direct Payables or Liabilities which have not been deducted earlier - Usage of the loan should have been on Zakatable Wealth only.
59
11aLoans taken from from Friends / Relatives
60
11bLoans Taken from Banks / Institutions
61
11cIncome Tax / Wealth Tax Payable
62
TOTAL LIABILITIES00
63
64
TOTAL ZAKAT PAYABLE0
65
66
IMPORTANT: PLEASE READ BELOW SUMMARY FOR INSTRUCTIONS & NOTES:
67
Dear Brothers & Sisters,
68
Alhamdulillah, the month of Ramadhan has been bestowed upon us by Allah. ZAKAT is one of the five fundamental pillars of Islam, mandatory on all muslims who are of eligible wealth. Zakat is due from and payable by a person on his wealth (and not his income), which has remained with him/her for one Islamic year.
69
It is difficult to calculate the completion of one year on each item of wealth, because purchase dates may vary. To overcome this difficulty, a practical method is to fix a date (e.g. 1st of Ramadhan), compute your total wealth on that date and calculate Zakat, thereon.
70
The attached spreadsheet is a humble attempt at making the calculation process simple and consolidated, for all brothers and sisters who are fortunate to be worthy of paying Zakat. If there are any errors, its purely due to my incomprehension and may be brought to my notice immdtly by email at ajameel@yahoo.com. This is also available online at http://www.geocities.com/ajameel/zakat.html .Please remember me in your supplications and may Allah give us all the rewards of both worlds. Aameen.
71
A lot of brothers have asked me what Madhab do I belong and whether this covers Shias, Barelvis, Jaffris, Bohras and other sects. All I can say here is that let us rise above all these covert little shells we have built around us. We are Muslims first and if one is sincere, he will rise above all this secterianism, read the Quran himself and get the facts firsthand. The practical life of our Prophet SAS is there to be followed and practiced. And pray to Allah that he show us and keep us on the right path. Aaameen.
72
Yours Brother in Islam, Arif Jameel.
73
74
75
Details of Each Section to be used in conjunction with the Calculation Spreadsheet.
76
Zakat on Pure Gold and Gold Jewellery
77
Zakat should be calculated at 2.5% of the market value as on the date of valuation (In our case we consider 1st of Ramadhan). Most Ulema favour the Market Value prevailing as on the date of Calculation and not the purchase price.
78
Zakat on Precious and Semi-Precious Stones
79
There is considerable contention on whether these are to be considered for valuation. In my humble opinion if they have a value, then they calculate towards your wealth, and it is on the wealth that Zakat is mandatory. However please consult with Moulvi, before acting on this section. Most Ulema contend that a diamond is a piece of carbon and its value varies, unlike that of gold or silver.
80
One may calculate the Saleable Value of Items-at-hand on the date of Zakat Calculation.
81
82
Zakat on Silver.
83
Zakat is to be paid on Silver in Pure form or Jewellery, Utensils, Decorative items and all household items including crockery, cutlery made of silver at 2.5% of the prevailing market rates.
84
85
Zakat on Cash and Bank Balances
86
Zakat should be paid at 2.5% on all cash balance and bank balances in your savings, current or FD accounts. The amount technically should be in the bank for one year. Usually it happens that the balance keeps on changing as per personal requirements.
87
You may make your best judgement and the best way is to pay on remaining amount on the day of calculation
88
89
Zakat on Loans Given, Funds, etc
90
Zakat is payable by you on loans you have given to your friends and relatives. It should be treated as Cash in Hand. You may deduct Loans Payable by you to arrive at the nett present value of your wealth. However, if you are in doubt, on the return of your money, then you may not calculate it as your wealth. You can add it to your wealth, if and when your receive your money.
91
Zakat is payable on all Govt Bonds, Public Sector Bond, paid-up Insurance premiums, your paid-up portion of Provident Funds, Govt Bills receivables, etc. Pls remember you need to be aware of what the sharia says about Insurance and other types of investments. It is outside od the scope of this Zakath Calculator.
92
93
Zakat on Landed Property
94
Zakat is not payable on personal residential House even if you have more than one and meant for residential purpose only. Also Zakat is not applicable on the value of Property given on rent irrespective of how many. However Zakat is payable on the rental income itself after deducting the maintenance and other expenses.
95
However if your intention of holding properties is to sell at a future date for a profit or as an investment, then Zakat is payable on the Market Value of the property. Also, if your intention of holding properties changes in the current year, I.e. from self use to business then you need to pay Zakat on that Property Value.
96
97
Zakat on Business:
98
This is for Business Persons only. No matter what business you are into, you've got to pay Zakat on all STOCK-IN-TRADE. The stock must be valued at its Landed Cost Price. If you have any bills receivable (sales given on credit) then you need to add the same towards calculations.
99
Deduct the Amounts due to your suppliers and deduct the loans on stock on the date of calculation. Dead Stock should be calculated on scrap value or its saleable value. Damaged stock should also be valued at its scrap value.
100
Be honest in the calculations, as ZAKAT is an INSURANCE on your STOCK directly from ALLAH and who better an insurer than Him.
Loading...
 
 
 
Zakat Calculations