Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

Zakat Calculator Helps to Calculate the Zakat

By Julia Roger Subscribe to RSS | July 14th 2012 | Views:
loading
 
  



The concept of Zakat is mainly all about doing ones bit for the society. There is popular belief in the Muslim society that all wealth that an individual may have accumulated belongs to Allah. One is just the caretaker. Therefore, it is very much natural that one donates a part of that savings for charitable purposes. This was introduced by none other than the great Prophet Muhammad. In those days it was a voluntary contribution. Even toady with the exception of Pakistan and Saudi Arabia it is a voluntary contribution. It is not a tax that is levied by states. However, if there is a need to find the exact amount one must take help of the zakat calculator.

However, before one proceeds further it is important to have a perfect idea about the system of Nisab. It can be referred to as the exemption limit of paying Zakat. It is only after the savings or the capital has reached this stage can one pay Zakat. It is calculated on the basis of 3 oz of pure gold. Once the savings are equivalent to 3oz of gold a person must pay 2.5% of the total amount as Zakat. Therefore, if one is keen to calculate zakat this is a system, which can be put to good use.

Once the calculation portion has been done away with it is now time for payment. There are committees, which have been set up for the collection and finally the utilization of the fund. One can always pay the money there. It is a yearly payment and most Muslims prefer to pay it in the holy month of Ramzan. It becomes due exactly a year after the last payment was made. It is generally paid after one lunar. Though this form of contribution is not compulsory in most Muslim nations yet if one feels he/she has enough there is no harm if some money is given for charitable purposes.

Julia Roger - About Author:
For more information on calculate zakat, check out the info available online; these will help you learn to find the zakat calculator!

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:
http://www.articleside.com/business-articles/zakat-calculator-helps-to-calculate-the-zakat.htm

Related Business Articles Subscribe to RSS

Peru Amazon Tours in Tambo Blanquillo and Regions to Experience Near By
Published by Tracy Narvaez on August 25th 2012 | Business
On the way to the lodge from Cusco there is a cloud forest, various rainforest habitats and a small ...
 
Gardening and Outdoor Living Retailing in Emerging Markets: Market Guide to 2016
Published by Bharatbook on August 25th 2012 | Business
Bharatbook.com introduces a report Gardening and Outdoor Living Retailing in Emerging Markets: Mar...
 
Time to get the latest university news
Published by Gene Crayton on August 25th 2012 | Business
Education is a never-ending process. Each day you get to learn something new which may or may not be...
 
Voice over Agencies- Helping Hand for All Your Voice over Requirements
Published by Julia Roger on August 25th 2012 | Business
It is important that you choose a voice over agency that is reputed and is in the business for a con...
 
Use Outlook for Conference Room Scheduling
Published by Julia Roger on August 25th 2012 | Business
It is best to use different color codes for meetings in different conference rooms that will help in...
 
Use Outlook for Conference Room Scheduling
Published by Julia Roger on August 25th 2012 | Business
It is best to use different color codes for meetings in different conference rooms that will help in...