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View Full Version : How to Calculate Zakat On Merchandise Inventory in Holy Month of Ramadan 2012-13



Ramadan-ul-Mubarak
07-30-2012, 06:34 PM
This is the method that how you can calculate the Zakkat which gives you the exact amount which you can give to the people who really need it.
Narrated Ibn 'Umar: Allah's Apostle said: Islam is based on (the following) five (principles): To testify that none has the right to be worshipped but Allah and Muhammad is Allah's Apostle; to offer the (compulsory congregational) prayers dutifully and perfectly; to pay Zakat (i.e. alms); to perform Hajj. (i.e. Pilgrimage to Mecca), and to observe fast during the month of Ramadan. (Al-Bukhari, Vol.1, Book 2, No.7).

Allah has notified some things on whoihc the Zakat is require to pay if you will not then it will effect you in Judgemnt day and in the world to. So Followings are the list of Things on which zakat is Require



Gold and Silver
Cash
Stocks
Mutual Funds
Stock Options
Business Merchandise Inventory
Private Companies, Corporations and Partnerships
Retirement Plans (401K, IRA, etc.)
Real Estate Investments in Property Owning Companies
Accounts Receivable
Profits from Investments
Trusts
Long-Term Insurance (Life Insurance)
Lump Sum Payments in Terms of Compulsory Pension and Provident Funds
Severance Package
Income Tax
Liabilities which may be deducted
Buried Precious Metals or Minerals (Rikaz)
Livestock, Animals, Cows, Sheep, Camels
Agricultural Produce



Zakat On Merchandise Inventory :



This requires a fourth of a tenth (2.5%) Zakat to be paid on them, when they remain a full year without decreasing to zero. The minimum amount of the value of business merchandise that requires Zakat to be paid is the same as gold and silver, and the merchant could use either standard to estimate how much Zakat he should pay.