|Clauses of Zakat|
Zakat is the Islamic concept of tithing and alms. It is an obligation on Muslims to pay 2.5% of their wealth to specified categories in society when their annual wealth exceeds a minimum level (nisab). Zakat is one of the Five Pillars of Islam.
" Take Sadaqah (alms) from their wealth in order to purify them and sanctify them with it, and invoke Allâh for them. Verily! Your invocations are a source of security for them, and Allah is All-Hearer, All-Knower. "
(Surah At-Taubah: Verse 103)
" And inside the estate have a rites for them for asking and the people who did not have income for their life ."
(Surah dzariyaat: Verse 19)
ZAKAT OBLIGAT TERM
Zakat is an obligation and compulsory for Muslims.
Slaves are not compulsory to pay zakat except for paying tithe ( Zakat Fitrah ). Anyway although there is no problem of slaves nowadays but the requirement of independence is permanent as one of the condition and obligation of zakat.
Absolute possessions means the property must be owned now and at present but the condition of independence is still permanent as one of the obligatory requirements.
Minimum value of zakat to be paid will determine whether the possessions need zakat or not, In Malaysia nisab is determine by the value of gold equivalent to 85 gram depend on the price of recent gold price.
Exactly one year the property is kept for 354 days for the year of Hijrah and 365 days for the year of Masehi.