• Prayers & Duties >> Zakat & Charity

    Question ID: 36058Country: India

    Title: I simply calculate approximately my zakah 2.5% on the total amount (balance in bank+ current value of the investments in stocks/mutual funds + provident fund balance) currently at the month of Ramadan regularly

    Question: Please clarify if I am right/wrong in calculating my zakah. I simply calculate approximately my zakah 2.5% on the total amount (balance in bank+ current value of the investments in stocks/mutual funds + provident fund balance) currently at the month of Ramadan regularly. I had read a Hadith in which the Prophet Muhammad PBUH had said that the excess zakah paid is just like that no zakah was paid.

    Answer ID: 36058

    Bismillah hir-Rahman nir-Rahim !

    (Fatwa: 149/125/B=1433) We could not find any such hadith. It is right to pay 2.5% as zakah.

    Allah (Subhana Wa Ta'ala) knows Best

    Darul Ifta,

    Darul Uloom Deoband, India