Zakaat On Savings

Qualifying Assets, Zakaat

Question

I live with my parents and i’m working also. Whatever salary I get, I save that. and so, I do not have to pay for any other expenses. 1 year has passed and the savings are still in my possession. I would like to know whether i’m liable to pay?

Answer

If you are Baaligh and have maintained the Nisaab for a complete lunar year from the point of acquiring the Nisaab (for the very first time) then yes, you are liable to pay Zakaat on your savings.

Checked and Approved By:

Mufti Muhammed Saeed Motara Saheb D.B.

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