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Zakat Self-Assessment: Section 1 - Do You Have To Pay Zakat This Year ?

This document is a self-assessment form for calculating zakat, a religious obligation in Islam. It asks the user to provide personal details and determine if their net assets exceed the nisab level, which would require them to pay zakat. If so, it instructs them to continue to Section 2 and list the current value of their assets and liabilities in various categories, such as gold, cash, property, shares, loans receivable, and debts owed. After totaling assets and liabilities, it calculates the user's net assets by subtracting total liabilities from total assets. It then calculates zakat due by multiplying net assets by 2.5%.

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152 views4 pages

Zakat Self-Assessment: Section 1 - Do You Have To Pay Zakat This Year ?

This document is a self-assessment form for calculating zakat, a religious obligation in Islam. It asks the user to provide personal details and determine if their net assets exceed the nisab level, which would require them to pay zakat. If so, it instructs them to continue to Section 2 and list the current value of their assets and liabilities in various categories, such as gold, cash, property, shares, loans receivable, and debts owed. After totaling assets and liabilities, it calculates the user's net assets by subtracting total liabilities from total assets. It then calculates zakat due by multiplying net assets by 2.5%.

Uploaded by

EEIS
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLS, PDF, TXT or read online on Scribd
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Zakat Self-Assessment

Personal Details
Name
Address
Contact Number
Zakat Year Ending

Start Here…….

Section 1 - Do you have to pay Zakat this Year ?


You only need to pay Zakat if you own net asset wealth above the
Nisab Level (87.48 grams of Gold or 612.36 grams of silver). Please See section C
also ensure that you have taken account of your basic necessities,
before comparing your net asset level to the Nisab level.

If the answer to the above question is No, then you no longer need to
proceed with the rest of this form. You do not have to pay Zakat. If
you answered Yes, the continue to section 2
Guide
Section 2 - Assets and Liabilities Totals reference

Code ASSETS
Gold Section E1
Silver Section E1
Cash at Bank Section E2
Cash in Hand Section E2
Conventional Bonds (not property Bonds) Section E2
Cash ISA's and cash Tessa Section E2
National Savings Account Section E2
Other liquid investments Section E2
Property (for resale only) Section E3
Rental income from investment property Section E3
Finished Goods Section E3
Work in progress Section E3
Raw Materials Section E3
Shares (for resale) Section E3
Shares held as Investment (see formula) Section E3
Livestock Section E4
Agricultural Output Section E5
Loans receivable (money you are owed) Section H1
Trade Debtors Section H1
Pension Contributions (see exemptions) Section H1

Total Assets 0 Box 1

Code LIABILITIES
Personal Loans Payable (Money you owe, see notes) Section H2
Outstanding Mortgage Payment (for this Zakat Yr only) Section H2
Rent, Bills and other Utilities outstanding Section H2
Goods purchased on credit Section H2
Salaries due to be paid to staff Section H2
Dower due to Wife Section H2
Commercial Loans (See guide reference, only zakatable Section H2
element can be deducted) Section H2
Bad Debts Section H2
Any other valid Deduction (including basic necessities) Section H2

Total Liabilities 0 Box 2

Net Assets 0 Box 1 - Box 2

Net Assets * 2.5%=


Zakat due 0 Section I
KEY - Categories of Assets/Liabilities

Gold & Silver

Cash or cah equivalents

Stock in Trade (includes property & Shares)

Livestock

Agricultural Output

Debts Receivable (includes pensions)

Deductible Debts

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