- EN (English)
| Fatwa ID: | 76425 |
| Title: | Paying Zakat on my savings if it decreased and increased over the past year |
| Category: | Poor-due or obligatory charity (Zakaah) |
| Scholar: | Dr. Main Khalid Al-Qudah |
| Date: | 09/15/2008 |
Last year, I started with a savings of say $30,000.00 after taking out my zakat for 2006-2007. I spent about $40,000. I have saved $20.000 out of my salary this year. I had to add $10,000.00 from this year's saving amount to spend $40,000.00. I have $10,000.00 remaining which has not stayed for one whole year. Please advise if I have to pay zakat on this amount of savings (i.e. $10,000.00) or not.
Jazak Allah khair.
Once you have reached the Zakah due date after the passing of one fiscal lunar year, all of the money you have becomes subject to Zakah, even if some of this money has not been in your possession for one complete lunar fiscal year, and even if you already paid the Zakah on some of this money last year.
The reason behind this rule is that it is not practical to have a hawl, or Zakah due date, for every single dollar you earn. You must set a specific hawl for yourself and pay the Zakah due on the money you have on that day.
