Q: 138 – Title: Can we give Zakat on gold ,even that we are having it a period of less than 4 months ? Or else can we calculate it like total Zakat/3 ....please correct us if we are wrong?

Question

Can we give Zakat on gold ,even that we are having it a period of less than 4 months? Or else can we calculate it like total Zakat/3 ....please correct us if we are wrong?

Answer

In the name of Allah, Most Gracious, Most Merciful

Assalamu 'alaykum wa Rahmatullahi Wabarakatuh

You will only have to give zakah on gold if:

1. it is equal or more than the nisab of gold (i.e 87.479 grams) or if it is equal or more than the nisab of silver (i.e 612.35 grams). In other words, lesser of the two nisabs.
2. and you have it in your possession for one Islamic year.¹

However, if you have assets on which the zakah is due, then no matter how much gold you have, you will have to add it to the rest of assets and calculate zakah on total amount.

(Ahsanul Fatwa, Vol.4, Pg.264, HM Sa?d)¹

(Bahishti Zewar, Pg.240, Makki Darul Kutub)

And Allah Ta'ala Knows Best
Wassalamu 'alaykum

Ml. Abduz Zaman,
Student Darul Ifta

Concurred by: Ml. Abdur Rahman Shareef, Student Darul Ifta

Under the guidance of:

Mufti Ebrahim Desai Saheb
Darul Ifta, Madrasah In'amiyyah