Zakat On Salary As Well As Business Income
5% and 10% are calculated on gross receipts. If you use the Zakat Calculator referenced above it will be very beneficial for you. If you pay off your loan (or an installment) before your Zakat is due then it will automatically reflect in your assets. If you plan to pay the amount shortly afterwards, you may make an ijtihad with all sincerity to deduct that amount from your Zakat.
Sir pls clear just one more doubt.. In calculator under production section there is a point for nisab below which zakat is not applicable. So here in India upto 2.5Lacs tax is not applicable..but 2.5L is profit not receipts.For eg if total receipt is 10-12 lacs or anything but after deducting expenses profit is just upto 2.5L so tax is not applicable So here in calculator what should I take as nisaab..total receipt or profit ?