Zakaat calculation

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Question ID: 28016
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1. Do we pay Zakaat on platinum and diamonds and 9 & 18 carat gold? one mufti said yes another said no only for 22 or 24 carat gold???

2. I’m a doctor and have a surgery, my medicines are included in my consultation fee, do i pay Zakaat for my stock of medicine or do i pay Zakaat on whats left in my bank balance once a year or do i pay Zakaat on all income made before expenses?
Please explain how to go about calculate my zakaat?

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Asked on November 2, 2008 12:00 am
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Private answer

1) Evaluate and add to you assets. In it lies benefit for the poor.

2) Pay on paid up stock. also on bank balance basically Zakaat is on assets minus liabilities - 2 1/2 % of the equation result.

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