Zakat On A Single Source Of Income
Thank you for the response and link @altmash and @UmerQureshi Just so that I can be sure that I have understood correctly, could you please verify if the following is a valid assumption: Yearly Salary: 100,000 Yearly Tax (30%): 30,000 Zakat liable (10%): 10,000 Extra deducted: 20,000 (30,000-10,000) Savings (as investment): 50,000 Nisab Silver (assumed): 400 Zakat liable amount: 49,600 Zakat liable (2.5%): 1,240 But since 20,000 surplus was already deducted from yearly salary then its safe to assume that 1,240 on savings can be adjusted in this amount and waived off from Zakah?