Zakat is one of the basic and fundamental concept of Islam. Islam declears it a compulsory act, and therefore, all Muslims must pay Zakat, provided they meet certain conditions. The concept of Zakat is to purify the wealth and soul of a muslim. Calculation of Zakat is based on the total savings of a person during one Islamic year. It is important to note that only the beginning and end of the year are taken into accounts. Muslims must possess a minimum “Zakat Payable” amount of wealth, both at the beginning and at the end of their Zakat year, for them to pay Zakat. Items like gold, silver, paper currency, digital currency, trad-able assets owned by a business, crops, and herded animals, receivables, parables and prepaid payments as well as many other figures are taken into consideration when calculating Zakat.
Zakat calculation is truly a professional act which requires expertise in the field of Accountancy and Knowledge of Islamic beliefs and clarifications of concepts related to the Zakat.
By taking Qualified Islamic Scholars (Mufti) and Experienced Accountants in to our panels we are able to offer our Services of your Zakat Calculations accurately.
Note: This service of Zakat Calculation is Free of any cost and without our service charges.