Zakat- Determining Personal And Business Needs Of Present And The Future
It is ultimately decision of an individual and it should be an honest decision. As a principle, all items of personal use are exempt from Zakat and this extends to genuine savings made for personal needs i.e. Gold saved for daughter’s wedding, plot bought or savings made to construct a house for personal use only etc. Savings made for any future contingency will be considered savings and not exempt under personal use items. For relevant comments of Ghamidi Sahab in this context, please refer to the video below from 49:19 to 55:16 https://youtu.be/kh-kRZP6g1U?t=2959