Zakat - I am a student: do I have to pay zakat?
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Question
I wanted to know if Zakat is an obligation (fard) on me? My reality is that I am a Full time Student at a University. I do not have a part time job, however I do get some allowances from my parents for expenses such as food, travel, books and the likes. Can you please also tell if I am not obliged, when will it become incumbent upon me to pay zakat?Answer
Al-Salam `alaykum
When a mature person becomes the owner of the Nisab amount (*) for the first time his Zakah year begins. Thereafter on the same Islamic date the following year if he still possesses Nisab or more - notwithstanding any fluctuations in his balance during the course of the year - he must give Zakah for all the wealth he possesses at this time at the rate of 2.5%.
(*) Nisab is the monetary equivalent of 87.49g of gold or 613.35g of silver. The amount in your local currency can usually be ascertained from a reliable local Ulama body.
On your Zakah evaluation date you simply have to total all your Zakatable assets and subtract your liabilities from this total. This will give you a net amount upon which Zakah must be paid.
Abu Usamah
This answer was published by SunniPath and is preserved as written. Rulings can depend on circumstances; for your own situation, consult a qualified scholar.
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