Rules For Zakah Zakat On Goods of Trade (2)
1) Zakaat is due on any goods of trade
2) The nisab of the goods of trade will be according to the price that means if the price of those goods reach the nisab of gold and silver zakah will be obligatory on it otherwise not.
3) In goods of trade also one fortieth of them will be compulsorily zakaat.
4) In the goods of trade the value on the expiry of the span of one year is considered but at the beginning of the year their value was not less than 200 dirham.
5) If there are goods of trade and the value is less than the nisab but after few days their value is increased due to price hike and reached the limit of the nisab. The time the value is increased will be counted as the beginning of the year.
6) The value of goods of trade is determined on the currency mostly in circulation in that area. If the rupees and the gold coins (ashrafi) both are in circulation side by side it is discretionary to determine on any one. When the value of goods of trade does not reached the nisab through one currency and reaches by another the value is arrived at by this currency and the zakah is paid.
The value of the goods is based on the market value available at the place where they are kept. If the goods are in the forest the value is valid (3) as prevailed in the nearby area of the forest.
Note: Zakat On Goods of Trade
(2) : the goods which are meant for sale to derive benefit out of them it is called the goods of trade of any kind such as grains, cloths, articles of domestic use, etc.
(3) : Provided those goods are not grown in forest such as timber etc otherwise the goods which are grown in the forest the value thereof will be taken into consideration as available in the forest .
8) Zakaat is also due on the profit along with the principal even though a span of one year is not passed on it.
9) Zakah is not due on the rent collected on cauldrons and houses.
Being a Muslim it is must to spread saying (Ahadith) of Prophet (PBUH) to each and every one for which one will be rewarded both in this world and life hereafter.