Is there Zakat on the money of the association ? I owe Rs 50,000 / - to one and Rs 47,000 / - to another. We have an association where I have deposited Rs. 150,000 / -. The money of the association is deposited in the bank , no work is done. Do I have to pay zakat ? How much more do you have to pay ?

1 Answer

Answer :

: If a person has zakatable assets worth the equivalent of 52.5 tolas (612.36 grams) of silver, then zakat is obligatory on him at the end of the year. So zakat has become obligatory in the case in question. Because , the above three figures are equal to cash. Therefore, one-fourth of the total amount of Zakat has to be collected by calculation. (Hedaya: 1/196 , Addurrul Mukhtar: 2/30)

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