What is meant by Zakat and Usher?

Zakat and Ushr are important instruments of the Islamic fiscal system. It is an obligatory practice of Islam aiming to help the society and give the deprived ones a better life and opportunities.

Is tax and Zakat same?

While zakat has a religious sanctity, tax is not like that. Tax is collected from all citizens of a country. The government collects tax for the overall development of the country, On the other hand, Zakat is only imposed on Muslims. Zakat is fixed as per the Holy Quran and cannot be changed by any person.

How much gold is Zakatable?

Zakat must be paid on 2.5% of the value of the gold that you own.

What is Khums in Shia Islam?

Khums (Shi’a Islam) Khums means ‘a fifth’ (or 20 per cent) in Arabic. It is the sixth of the Ten Obligatory Acts of Shi’a Islam. This tax is paid on any profit earned by Shi’a Muslims.

Do I still have to pay zakat if I pay taxes?

Zakat rules on tax Personal taxes such as road and income tax are not exempt from Zakat. However, if the taxes being paid are overdue, they become a deductible debt and exempt. Money being saved for tax purposes is deductible from the Zakat total.

Can zakat be given to non Muslims?

It is known in the Shari’ah that Zakat cannot be given to non-Muslims, as it should be taken from the rich Muslims and given to the poor Muslims, because of the hadeeth of Mu’adh mentioned above.

Why is there no Zakat on diamonds?

There is no Zakat on diamonds or colored gemstones when one owns them as ornaments or decorations in normal quantities and not in measures of recognized extravagance, or in forbidden forms, or for prohibited uses. By far, women’s jewelry accounts for their most common Zakat exemption.

Why do Shia pay khums?

Khums (Shi’a Islam) Shi’a Muslims pay this tax because the Qur’an says: Know that whatever of a thing you acquire, a fifth of it is for Allah, for the Messenger, for the near relative, and the orphans, the needy, and the wayfarer (Surah 8:41) .

What’s the difference between khums and zakat?

According to Shi’a Grand Ayatollah Imam Muhammed Shirazi, a second difference is with respect to the amount of tax applied under the two systems, since, for khums the rate is one fifth or 20 per cent, but, “zakat tax rate ranges from one-out-of-one-hundred to one-out-of-forty” (Shirazi.uk.org 10 July 2001).

Who should not receive zakat?

The recipient must not belong to your immediate family; your spouse, children, parents and grandparents cannot receive your zakat. Other relatives, however, can receive your zakat. The recipient must not be a Hashimi, a descendant of the Prophet (peace be upon him).