Darul Ifta Ibn Masood

Zakaat on jewellery is discharged at the market value

· 10 Rajab 1443 AH1 min readEnglish

Question

When Zakaat is being discharged on gold and silver (jewellery), then will the cost price be taken into consideration or the selling price?

Answer

Zakaat on jewellery (gold and silver) will be discharged at the current market value. This, in simple terms means, that the price at which the jewellery can be sold at the market place, will be the price on which Zakaat will be calculated.

References (Arabic / Urdu sources)

( ويعتبر فيهما ان يكون المؤدي قدر الواجب وزنا —- ولو ادي من خلاف جنيه يعتبر القيمة بالاجماع كذا في التبيين (الفتاوي الهندية ص178ج1

Answered by
Mufti Mohammed Desai
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Source: Darul Ifta Ibn Masood — https://fataawa.co.za/zakaat-on-jewellery-is-discharged-at-the-market-value/
Fatawa SA: https://fatawa.co.za/fatwa/ibnmasood-16301

People also ask

Is zakaat payable on jewellery?

“It is compulsory to pay zakat on jewellery made from gold and silver. You may pay your wife’s zakat on her jewelry with her consent Abu Ali ad-Dagestani Student Darul Iftaa”

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