07-30-2012, 07:34 PM
How To Calculate Zakat on Buried Precious Metals or Minerals (Rikaz) In Every Ramadan
Allah (The Glorified and the Exalted- Subhaanahu wa Ta'ala) commands in the Quran, "Take alms out of their property, you would cleanse them and purify them thereby, and pray for them; surely your prayer is a relief to them; and Allah is Hearing, Knowing." [Al-Quran 9:103]
Narrated Ibn 'Umar: Allah's Apostle said: Islam is based on (the following) five (principles): To testify that none has the right to be worshipped but Allah and Muhammad is Allah's Apostle; to offer the (compulsory congregational) prayers dutifully and perfectly; to pay Zakat (i.e. alms); to perform Hajj. (i.e. Pilgrimage to Mecca), and to observe fast during the month of Ramadan. (Al-Bukhari, Vol.1, Book 2, No.7).
Allah has notified some things on whoihc the Zakat is require to pay if you will not then it will effect you in Judgemnt day and in the world to. So Followings are the list of Things on which zakat is Require
[size=14]Zakat On Buried Precious Metals or Minerals (Rikaz)
: [/SIZE]
Narrated Abu Huraira: Allah's Apostle said, "There is no compensation for one killed or wounded by an animal or by falling in a well, or because of working in mines; but Khumus (one-fifth) is compulsory on Rikaz." (Bukhari, Vol. 2, Book 24, No. 575).
When the Muslim finds any treasures hidden in his land, he is required to give a fifth (20%) of that treasure in charity as Zakat. The same applies to mines, such as gold and silver mines, or precious metals (which fall under the ruling of Rikaz).
Allah (The Glorified and the Exalted- Subhaanahu wa Ta'ala) commands in the Quran, "Take alms out of their property, you would cleanse them and purify them thereby, and pray for them; surely your prayer is a relief to them; and Allah is Hearing, Knowing." [Al-Quran 9:103]
Narrated Ibn 'Umar: Allah's Apostle said: Islam is based on (the following) five (principles): To testify that none has the right to be worshipped but Allah and Muhammad is Allah's Apostle; to offer the (compulsory congregational) prayers dutifully and perfectly; to pay Zakat (i.e. alms); to perform Hajj. (i.e. Pilgrimage to Mecca), and to observe fast during the month of Ramadan. (Al-Bukhari, Vol.1, Book 2, No.7).
Allah has notified some things on whoihc the Zakat is require to pay if you will not then it will effect you in Judgemnt day and in the world to. So Followings are the list of Things on which zakat is Require
- Gold and Silver
- Cash
- Stocks
- Mutual Funds
- Stock Options
- Business Merchandise Inventory
- Private Companies, Corporations and Partnerships
- Retirement Plans (401K, IRA, etc.)
- Real Estate Investments in Property Owning Companies
- Accounts Receivable
- Profits from Investments
- Trusts
- Long-Term Insurance (Life Insurance)
- Lump Sum Payments in Terms of Compulsory Pension and Provident Funds
- Severance Package
- Income Tax
- Liabilities which may be deducted
- Buried Precious Metals or Minerals (Rikaz)
- Livestock, Animals, Cows, Sheep, Camels
- Agricultural Produce
[size=14]Zakat On Buried Precious Metals or Minerals (Rikaz)
: [/SIZE]
Narrated Abu Huraira: Allah's Apostle said, "There is no compensation for one killed or wounded by an animal or by falling in a well, or because of working in mines; but Khumus (one-fifth) is compulsory on Rikaz." (Bukhari, Vol. 2, Book 24, No. 575).
When the Muslim finds any treasures hidden in his land, he is required to give a fifth (20%) of that treasure in charity as Zakat. The same applies to mines, such as gold and silver mines, or precious metals (which fall under the ruling of Rikaz).