Abdullah is 22 years old, and he has just recently started working at his first job....
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Abdullah is 22 years old, and he has just recently started working at his first job. On March 9, 2020 after receiving his paycheck, he has accumulated $600, which is above the Nisab (of silver of that day). Therefore, he notes down the Islamic month and date as per the Hijri calendar to mark the starting date of the Hijri lunar year at which Zakat will be due at the end. If Abdullah's total accumulated cash and other Zakatable Assets remain above the level of Nisab for the entire Hijri lunar year. Let's suppose that on April 19, 2020 Abdullah has accumulated $1500. In order to get to and from work more easily, he buys a car for $1300, leaving him with only $200 in his possession. Will he owe Zakat on the total Zakatable Assets in his possession? If Yes, then calculate his zakatable income and zakat Liability. Abdullah is 22 years old, and he has just recently started working at his first job. On March 9, 2020 after receiving his paycheck, he has accumulated $600, which is above the Nisab (of silver of that day). Therefore, he notes down the Islamic month and date as per the Hijri calendar to mark the starting date of the Hijri lunar year at which Zakat will be due at the end. If Abdullah's total accumulated cash and other Zakatable Assets remain above the level of Nisab for the entire Hijri lunar year. Let's suppose that on April 19, 2020 Abdullah has accumulated $1500. In order to get to and from work more easily, he buys a car for $1300, leaving him with only $200 in his possession. Will he owe Zakat on the total Zakatable Assets in his possession? If Yes, then calculate his zakatable income and zakat Liability.
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Answer i Zakat is a sort of donation a charitable one made by Muslims 25 of their surplus wealth sav... View the full answer
Related Book For
Taxation Of Individuals And Business Entities 2021
ISBN: 9781260247138
12th Edition
Authors: Brian Spilker, Benjamin Ayers, John Barrick, Troy Lewis, John Robinson, Connie Weaver, Ronald Worsham
Posted Date:
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