Zakat Calculation Resulting In Double Obligation
What is the nisab for a salaried person?
You can calculate Zakah in the following manner : 1 . Fix any one day of the year for the calculation of Zakah. On all subsequent years, Zakah should be calculated on this day. 2 . Subtract the value of 642 grams of silver from your total wealth on this particular day which includes all your assets as at that date except items of personal use. 3 . 2.5 % of this amount is the Zakah to which you are liable. In case you are a salaried person you should also pay 10 % of your salary every time you receive it. You can deduct the amount the government has fixed as exemption to salaried persons and then pay the said percentage of the remaining amount as Zakah. ( In case there is no tax exemption slab available, then one can use amount equivalent to 653 kg of dates as Nisab for Salary earnings .) Remember, if it is not possible to pay your Zakah money in one go you can pay in installments as well. 4 . Since Zakah is the only tax which a government can impose on its citizens, you can deduct other taxes that you have paid from your Zakah amount. If the balance is negative you do not have to pay Zakah.