1. What is Zakat on Gold?

Zakat on gold is an obligatory charitable payment in Islam for those who own gold that meets or exceeds the nisab (minimum threshold) of 85 grams. It's calculated as 2.5% of the total value of the gold holdings.

2. How Does the Calculator Work?

The calculator uses the Zakat formula:

Where:

• \( Gold\ Weight \) — Weight of gold in grams (g)
• \( Gold\ Price \) — Current market price per gram of gold
• \( 0.025 \) — 2.5% Zakat rate
• \( 85g \) — Nisab threshold for gold

Explanation: Zakat is only payable when the gold weight meets or exceeds the nisab threshold of 85 grams. The calculation is then 2.5% of the total value of the gold.

3. Importance of Zakat Calculation

Details: Accurate Zakat calculation ensures Muslims fulfill their religious obligation properly. Zakat purifies wealth and helps distribute it to those in need.

4. Using the Calculator

Tips: Enter the total weight of gold you own in grams and the current market price per gram. The calculator will determine if Zakat is payable and calculate the amount if applicable.

5. Frequently Asked Questions (FAQ)

Q1: What is the nisab for gold?
A: The nisab for gold is 85 grams (approximately 7.5 tolas or 2.732 troy ounces).

Q2: Is Zakat due on gold jewelry?
A: According to most scholars, Zakat is due on gold jewelry if it meets or exceeds the nisab, unless it's for personal use (opinions vary on this).

Q3: How often should Zakat be paid?
A: Zakat is due once every lunar year (Hawl) on wealth that has been in your possession for at least one year.

Q4: What if I have different types of gold?
A: All gold holdings should be combined when calculating whether the nisab has been reached.

Q5: Is the price based on 24K gold?
A: Yes, the calculation should be based on 24K gold price. If your gold is less pure, you should adjust the weight accordingly.