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Zakat (Tax): Difference between revisions
Automated script replacing USC-MSA hadith numbering system for Bukhari, Muslim, and Abu Dawud
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'''Zakāt''' (زكاة) is one of the [[Five Pillars of Islam]]. According to traditional Islamic sources it is a [[fard]] (obligatory) tax<ref name="EBZT">{{cite web|url= http://www.britannica.com/EBchecked/topic/655448/zakat|title= zakat (Islamic tax)|publisher= Encyclopedia Britannica|author= |date= accessed November 16, 2013|archiveurl= http://www.webcitation.org/query?url=http%3A%2F%2Fwww.britannica.com%2FEBchecked%2Ftopic%2F655448%2Fzakat&date=2013-11-15|deadurl=no}}</ref> required of Muslims, amounting to about 2.5% of one's wealth over the course of a year. [[Slavery|Slaves]] and horses owned by Muslims are exempt from this taxation.<ref>"''Narrated Abu Huraira: Allah's Apostle said, "There is no Zakat either on a horse or a slave belonging to a Muslim"''" - {{Bukhari| | '''Zakāt''' (زكاة) is one of the [[Five Pillars of Islam]]. According to traditional Islamic sources it is a [[fard]] (obligatory) tax<ref name="EBZT">{{cite web|url= http://www.britannica.com/EBchecked/topic/655448/zakat|title= zakat (Islamic tax)|publisher= Encyclopedia Britannica|author= |date= accessed November 16, 2013|archiveurl= http://www.webcitation.org/query?url=http%3A%2F%2Fwww.britannica.com%2FEBchecked%2Ftopic%2F655448%2Fzakat&date=2013-11-15|deadurl=no}}</ref> required of Muslims, amounting to about 2.5% of one's wealth over the course of a year. [[Slavery|Slaves]] and horses owned by Muslims are exempt from this taxation.<ref>"''Narrated Abu Huraira: Allah's Apostle said, "There is no Zakat either on a horse or a slave belonging to a Muslim"''" - {{Bukhari|||1463|darussalam}}</ref><ref>"''Narrated Abu Huraira :- The Prophet said,"There is no Zakat either on a slave or on a horse belonging to a Muslim.''" - {{Bukhari|||1464|darussalam}}</ref> | ||
==Recipients== | ==Recipients== | ||
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Debtors (al-gharimin): This is regarding a person who despite having assets at his disposal, he is overwhelmed with debt and the debt exceeds the value of his assets. | Debtors (al-gharimin): This is regarding a person who despite having assets at his disposal, he is overwhelmed with debt and the debt exceeds the value of his assets. | ||
Those in the cause of Allah (fi sabil Allah): According to the majority of scholars, this refers to and is restricted to only those people who are engaged in Jihad (military struggle). | Those in the cause of Allah (fi sabil Allah): According to the majority of scholars, this refers to and is restricted to only those people who are engaged in [[Jihad]] (military struggle). | ||
Travellers (ibn al-sabil): This refers to those travellers who are in a desperate situation and have no access to their personal money. Money nowadays can be wired across the globe in a matter of minutes, hence, one who has the ability to receive his money, will not be allowed to take Zakat or Sadaqat al-Fitr.}} | Travellers (ibn al-sabil): This refers to those travellers who are in a desperate situation and have no access to their personal money. Money nowadays can be wired across the globe in a matter of minutes, hence, one who has the ability to receive his money, will not be allowed to take Zakat or Sadaqat al-Fitr.}} | ||