Zakat on GoldZakat should be calculated at 2.5% of the market value as on the date of valuation (For instance, if one is calculating Zakat on the 1st of Ramadhan, that day's market price to be seen). Most Ulema favour the Market Value prevailing as on the date of Calculation and not the purchase price. A Reduction of 2% from the weight of Jewellery can be allowed towards studded stones jewellery

Zakat Precious StoneThere is a difference of opinion on whether these are to be considered for valuation. The majority opinion is that as their value adds towards your wealth, and it is on the wealth that Zakat is mandatory, they should be considered. One may calculate the saleable value of Items at hand on the date of Zakat Calculation.

Zakat on SilverZakat is to be paid on Silver in Pure form or Jewellery, Utensils, Decorative items and all household items including crockery, cutlery made of silver at 2.5% of the prevailing market rates.

Zakat on Cash in Hand /BankZakat should be paid at 2.5% on all cash balance and bank balances in your savings, current or FD accounts. The amount technically should be in the bank for one year. Usually it happens that the balance keeps on changing as per personal requirements. You may make your best judgement and the best way is to pay on remaining amount on the day of calculation

Zakat on Loans / Investment/ Funds/ SharesZakat is payable by you on loans you have given to your friends and relatives. It should be treated as Cash in Hand. You may deduct Loans Payable by you to arrive at the net present value of your wealth. Zakat is payable on all Govt Bonds, Public Sector Bond, paid-up Insurance premiums, Govt Bills receivables, etc. Zakat is due on provident fund only after receiving the amount from the company

Zakat on Land PropertyZakat is not payable on personal residential House even if you have more than one and meant for residential purpose only. Also Zakat is not applicable on Property given on rent irrespective of how many. However Zakat is payable on the rental income. However if your intention of holding properties is to sell at a future date for a profit or as an investment, then Zakat is payable on the Market Value. Also, if your intention of holding properties changes in the current year, I.e. from self use to business then you need to pay Zakat on that Property Value

Zakat on BusinessThis is for Business Persons only. No matter what business you are into, you've got to pay Zakat on all STOCK-IN-TRADE. The stock must be valued at its Landed Cost Price. If you have any bills receivable (sales given on credit) then you need to add the same towards calculations. Deduct the Amounts due to your suppliers and deduct the loans on stock on the date of calculation. Dead Stock should be calculated on scrap value or its saleable value. Damaged stock should also be valued at its scrap value. There is no Zakat on Factory Buildings or any kind of machinery, but there is zakat on products produced in the factory (i.e. finished goods value). Please refer to a competent Aalim who can shed more light on your specific issues.

Zakat on Share in Patnership FirmsZakat can be paid EITHER by the firm OR separately by the owners. If the firm is not paying, and the partner wants to calculate his share, he should take the amount standing to his capital and loan account as per the last balance sheet. Add his estimated share of profit till the date zakat is calculated. This can only be estimated as it is difficult to calculate the exact profit or loss between an accounting year

zakat on agriculture produceZakat can be paid EITHER by the firm OR separately by the owners. If the firm is not paying, and the partner wants to calculate his share, he should take the amount standing to his capital and loan account as per the last balance sheet. Add his estimated share of profit till the date zakat is calculated. This can only be estimated as it is difficult to calculate the exact profit or

zakat on animals & poultry & fish farmingOn all grazing animals like goats, sheep, camel, cows, broiler chickens, the consensus Zakat payable is one animal/bird for every 40 animals owned. However you may wish to give cash in lieu of the animal/bird itself. There is some complexity regarding the calculation of Zakat on Animals, and hence you might want to consult a Sharia scholar

general liablitiesIf you have any pending tax payable to the govt, as of the date of Zakat Calculation, then the same may be deducted before arriving at the net worth. If you have taken any loans from any person or institution, and if you have not already deducted the same from any of the above sections, then you can deduct your Payables over here