PIECE OF ADVICE

[MySeLf]

Help the poor, and give ur zakkat this ramadan.

Mata, that gwala gwalai you are hiding, wata kila akwai zakka kai.
I think any gold over 80gram zakka tahau kansa.

[bakangizo]

I thought you only pay zakkat on items kept for one year, which had generated income, or was kept for commercial reason i.e value appreciation. Ina malamai ne ;D

[Dan-Borno]

Published by
Sufyan Ismail & Bashir Timol on behalf of the 1st Ethical
Charitable Trust (Copied and pasted at Kline by Danborno)
www.1stethical.com

ASSETS SUBJECT TO ZAKAT AND THEIR CALCULATION
METHOD
There are principally 5 categories of assets which are subject to
Zakat, they are as follows;
1) Gold & Silver
2) Cash or equivalent Investments (including stocks, shares etc)
3) Stock in trade (including property and pensions)
4) Livestock
5) Agricultural Output

General Rules on Assets
Personal Use - Those assets owned for personal use as well as
assets which form part of an individual's basic necessities are not
subject to Zakat. Even precious metals such as platinum are exempt
from Zakat if they are for personal use. An exception to the above
rule is Gold and Silver which are fully subject to Zakat even when
owned solely for personal use.

Trading Assets - All assets purchased for the explicit purpose of
resale are liable for Zakah. Assets purchased with the express
intention of generating a rental / investment return are not
themselves liable to Zakah.
Zakah is always paid on the balance of assets owned on the
Zakatable date, not on luctuating amounts during the year or even
an average amount. Zakah is always paid on the balance of assets
owned on the Zakatable date, not on fluctuating amounts during the
year or even an average amount.
1) Gold & Silver – Gold and Silver are subject to Zakat regardless of
whether they are owned for personal use or otherwise. Gold and
Silver are also always liable to Zakat irrespective of the asset type
(gold bar, jewellery, ingot, coin etc.)

[bakangizo]

Trading Assets - All assets purchased for the explicit purpose of
resale are liable for Zakah. Assets purchased with the express
intention of generating a rental / investment return are not
themselves liable to Zakah.

Allah saka. Amma I'm a little confused by the above. I mean, where does investments such as stock fell? Most times shares/stocks are bought not for resale, but for the returns on the investments (sometimes called rental returns in finance/econs).

As regards gold/silver, any supporting source (hadith, Qur'an) for that injunction?

[HUSNAA]

 "Assets purchased with the express
intention of generating a rental / investment return are not
themselves liable to Zakah". Then what about the return on the investment? isnt that subject to zakka then? Isnt the generated rent itself taxable as zakkah?

[MySeLf]

As regards gold/silver, any supporting source (hadith, Qur'an) for that injunction?

Some supporting evidence regarding Gold/Silver zakkat.
I hope it will be helpful.
Source:- Nigerian muslims on line dot com


  Zakat on Personal Jewelry

Bismillahir rHrH,
Assalamu alaikumu wRwB,
HADITH-12 CLASS-Fiqh
TEXT:
>From Ummu salamah RA,who used to wear a bright [jewelry] made of gold.
She said,Oh Messenger of Allah,Is it[the jewelry] a treasure?He-SAW
replied,If you give out its Zakat,then it is not a treasure...Abu Dawud,
Daraqutniy.



Allah SWT says...'And there are those who hoard gold and silver and
spend it not in the way of Allah:announce unto them a most grievous
chastisement....on the day when it will be heated in the fire of hell,
and with it will be branded their foreheads,their flanks and their
backs"This is the[treasure]which you hoarded for yourselves,taste ye
then,the[treasure]ye hoarded"'9:34,35.In the textual hadith above
Ummu salamah RA clarified on whether personal jewelry is similar to
treasure as used in the verse above.Zakat on it is implied by the
prophet,in his reply,to be necessary.

In another narration Amr Ibn Shuaibu reported,'That a woman with her
daughter,the latter wearing two gold bracelets in her hand,came to the
prophet SAW.He said,Do you pay zakat on them.She said,No.He said,Do you
want Allah to make you wear bracelets of fire on the day of judgement?
She then cast them away'.The hadith has been brought in other narrations
with slight variations.
In a similar theme A,ishah RA,herself,reported that she entered upon the
messenger of Allah SAW who saw in her hands silver earrings and he asked
her about them and she replied;'I made them to beautify myself for you,
Oh Messenger of Allah.'He said,Did you pay Zakat on them'and she replied
No,then He said'Their punishment in hell fire is enough for you'.
Based on the foregoing some ulama-Abu Hanifa,Ibn hazm and Hadawiyah sect
etc-opined that Zakat is necessary on personal jewelry used for
adornment.They hold that its nisab should be as for gold/silver,as
stated above.Yet others agree with the above,but hold that Zakat should
be given once only,rather annually.


The prophet SAW is reported to have cautioned a sahabi who had worn a
gold ring;He said,'How do I see you with the adornment of ahl jannah
before you enter it..'.Islam generally abhors gold adornment for men ie
rings,watches,jewelry etc.Scholars have opined that whenever men use
gold jewelry,or both men and women use forbidden items like gold or
silver utencils[plates,spoons etc];Zakat should mandatorily be paid,like
the case of gold/silver used for business or held as stock.
Allah SWT knows best.Maasalam,AGH.

References:
1-Quran 9:34-35.Yusuf Alis translation.
2-Sublus salam[Sharh of Bulugul Maram] by Muhammad Ismail As-sananiyyi
  Vol 2,Hadiths 579-580,pg 270-1.
3-Fiqhus Sunnah by Sayyid Sabiq Vol 1,pg 330-331.
4-Ashalil Madarik[Sharh Irshadus Salik] by Abu Bakr Ibn Husain
  Vol 1,pg 366-9.

[Mufi]

Courage doesn't always roar.
Sometimes courage is the quiet voice
at the end of the day saying,
I will try again tomorrow.

[amira]

Yep mumcee
Yau da gobe ka iya!!

[Dan-Borno]

When you have money:

Ci abinci mai kyau;
Sa taguwa/riga mai kyau;
Samu wajen zama mai kyau;
Kayi kyauta wa yan'uwan ka mai kyau;
Yi addinin ka dai dai gwargwadon karfinka;

Kada ka yarda ka boye kudi wai don
tsoron talauci - zaka mutu of hunger
and disease and your children or whoever
will inherit you will enjoy.

Remember, lokacin da aka haife ka ko
kayan sawa baka dashi - tur tur tsiraranka
aka kawo ka, ko kaciya ma daga baya ne
aka yi maka - so arziki na Allah ne, just
enjoy while it last before you go back to
RABBANA.

[amira]

Yawwa, a very good advice. ;)

[bakangizo]

When you have money:

Ci abinci mai kyau;
Sa taguwa/riga mai kyau;
Samu wajen zama mai kyau;
Kayi kyauta wa yan'uwan ka mai kyau;
Yi addinin ka dai dai gwargwadon karfinka;

Kada ka yarda ka boye kudi wai don
tsoron talauci - zaka mutu of hunger
and disease and your children or whoever
will inherit you will enjoy.

Remember, lokacin da aka haife ka ko
kayan sawa baka dashi - tur tur tsiraranka
aka kawo ka, ko kaciya ma daga baya ne
aka yi maka - so arziki na Allah ne, just
enjoy while it last before you go back to
RABBANA.

Gaskiyar ka. Dama Allah yace "Wa'amma bi ni'imati rabbika, fa haddith"

[MySeLf]

      SMILE:):D;D

     Now and always,......... Life doesn't matter.

[Muhsin]

Nice stuff up there. Keep them up coming.

@ Myself, life doesn't matter.
Am a bit unclear with that (above) expression.

[MySeLf]

Yes muhsin,
Life doesn't matter cos no one is here to remain,
and no one is taking his luxurious life or beauty with him.

We are all from one root to same end regardless of who we are
and what we have or how we look like.

CLEAR NOW!??

[Muhsin]

Yes. Thanks.