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

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    Shumon Mohammad Moazzem Hossain
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    This document is a zakat self-assessment form. Section 1 asks the user to determine if they meet the threshold for paying zakat based on their net wealth exceeding the nisab level. Section 2 contains tables to list the user's assets and liabilities. The user is asked to fill in values for assets like gold, cash, investments, property and debts receivable, and liabilities like loans and outstanding bills. The net assets are then calculated and multiplied by 2.5% to determine the amount of zakat due.

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    This document is a zakat self-assessment form. Section 1 asks the user to determine if they meet the threshold for paying zakat based on their net wealth exceeding the nisab level. Section 2 contains tables to list the user's assets and liabilities. The user is asked to fill in values for assets like gold, cash, investments, property and debts receivable, and liabilities like loans and outstanding bills. The net assets are then calculated and multiplied by 2.5% to determine the amount of zakat due.

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    12 views4 pages

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

    Uploaded by

    Shumon Mohammad Moazzem Hossain
    This document is a zakat self-assessment form. Section 1 asks the user to determine if they meet the threshold for paying zakat based on their net wealth exceeding the nisab level. Section 2 contains tables to list the user's assets and liabilities. The user is asked to fill in values for assets like gold, cash, investments, property and debts receivable, and liabilities like loans and outstanding bills. The net assets are then calculated and multiplied by 2.5% to determine the amount of zakat due.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as XLS, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 4

    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 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 See page 4

    Section 2 - Assets and Liabilities


    Code ASSETS Gold Silver Cash at Bank Cash in Hand Conventional Bonds (not property Bonds) Cash ISA's and cash Tessa National Savings Account Other liquid investments Property (for resale only) Rental income from investment property Finished Goods Work in progress Raw Materials Shares (for resale) Shares held as Investment (see formula) Livestock Agricultural Output Loans receivable (money you are owed) Trade Debtors Pension Contributions (see exemptions) Total Assets Code LIABILITIES Personal Loans Payable (Money you owe, see notes) Outstanding Mortgage Payment (for this Zakat Yr only) Rent, Bills and other Utilities outstanding Goods purchased on credit Salaries due to be paid to staff Dower due to Wife

    Totals

    Guide reference

    Page 6 Page 6 Page 6 Page 6 Page 6 Page 6 Page 6 Page 6 Page 7 Page 7 Page 7 Page 7 Page 7 Page 7 Page 7 Page 7 Page 7 Page 10 Page 10 Page 11 0 Box 1

    Page 10 Page 10 Page 10 Page 10 Page 11 Page 11

    Commercial Loans (See guide reference, only zakatable element can be deducted) Bad Debts Any other valid Deduction (including basic necessities) Total Liabilities Net Assets Net Assets * 2.5%=

    Page 11 Page 11 Page 10

    0 Box 2 0 Box 1 - Box 2

    Zakat due

    0 Section I

    KEY - Categories of Assets/Liabilities

    Gold & Silver Cash or cash equivalents Stock in Trade (includes property & Shares) Livestock Agricultural Output Debts Receivable (includes pensions) Deductible Debts

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