Zakat calculator for Zakat al-Mal on wealth and income.
Zakat Calculator Tips
Zakat or alms giving, is one of the five pillars in Islam and is a fixed proportion collected from the surplus wealth and earning of a Muslim.
It is obligatory upon any individual Muslim or organization that has completed the condition of Zakat or requirements based on:
- Nisab (The minimum amount of wealth is equivalent to 85g of market value of gold)
- Hawl (The minimum period of wealth retention is 1 lunar year)
The payment is 2.5% out of the total wealth deemed for Zakat.
For investments, it is on all Shariah-compliant investments where the Zakat has not been paid yet.
- For ASB this will be on principle amount.
- For Tabung Haji, it is non-zakatable as TH has already paid zakat.
- For non Shariah-compliant investments, the investment value after cleansing in subject to Zakat.
- For EPF and Takaful, zakat is only payable upon withdrawal.
- For gold, it excludes women’s jewelry that is worn for adornment.