To qualify for zakat, the recipient must be poor and/or needy. A poor person is a person whose assets, in excess of their basic needs, do not reach the nisab threshold.
The recipient cannot belong to the immediate family; spouse, children, parents and grandparents cannot receive zakat. However, other relatives may receive zakat.
The recipient must not be a Hashimi, a descendant of the Prophet (peace be upon him).
Example:
Ahmed has only 50 zlotys. However, he also owns two cars, one of which exceeds his basic needs. To find out whether Ahmed qualifies for zakat, the value of his second car must be taken into account.
For a donation to qualify as zakat, there must be a clear intention, either when separating the zakat money from the rest of the estate or when making the zakat payment. Gold and silver: Any gold or silver owned is subject to zakat, including jewellery according to the Hanafi school, as these two metals have an intrinsic monetary value. Other precious metals and stones are not subject to zakat unless acquired for commercial purposes. Cash or cash equivalent: Cash at home, in bank accounts, savings, money lent to others, savings certificates, bonds, shares, investment certificates, etc. are taken into account when calculating zakat. Goods purchased for commercial purposes: Any goods purchased with the intention of selling are included in the property subject to zakat. Any goods, other than gold or silver, that are not purchased for resale are not subject to zakat. Zakat is not due on personal belongings such as a house or car. Yes, zakat can be paid in advance before the end of the year, but make sure you have assets equal to or greater than nisab. According to the Hanafi school, no. A child is not obliged to pay zakat even if he or she has assets exceeding the nisab threshold. In the case of a child who has nisab or more, the first zakat payment will become due twelve lunar months after reaching puberty. According to Imam Shafi and Imam Malik, a child with assets exceeding the value of nisab is obliged to pay zakat. If I donate money to charity during the year, does that not count as zakat?
What proportion of my property is subject to zakat?
What part of my property is not subject to zakat?
Can I pay zakat in advance?
Do I pay zakat on property belonging to my children?