Fincrew Free Zakat Calculator
Fincrew Zakat calculator is a tool that you should be intimately familiar with if you’re a Muslim in the country today. While you can always choose to do the calculations of what your Zakat should be the traditional way, you may not always be able to account for every variable this way properly. And, because payment of Zakat stands as one of the five pillars of Islam, this is something you can’t afford to take with levity. To pay Zakat payment in Malaysia properly, you must first understand the different Zakat types. The two major types of Zakat you can observe in the country are:
- The Zakat or tithe that every Muslim has to pay on a property (broadly speaking).
- The voluntary Zakat payments a Muslim can make during Ramadan. It is usually known as the Zakat Fitrah.
Making Zakat Payments In Malaysia Today
Along the lines of better understanding Zakat collection and Zakat institutions in the country, some things you need to know are:
The Obligation a Muslim Has to Pay Property Zakat
In the pillars of Islam, any Muslim brethren who own property must pay 2.5% of the property value as Zakat. Property can refer to everything from monthly salary to company shares, credit card savings, and livestock. To make Zakat payments here, you must fulfill two essential criteria. The first is that the said property must’ve been acquired within one Islamic year, while the second is that the owned property has to exceed the Nisab value. Currently, the Nisab value is RM13,490.00 Zakat Selangor, and it changes every year. With our Zakat calculator in Malaysia, you won’t have to worry about the Nisab value as we’ll account for it for you.
This Zakat is standalone, and it’s also a one-off payment every Muslim who feels obligated to can make during the month of Ramadan. It’s usually paid before the commencement of Syawal. The value of the Zakat Fitrah is usually established by the local Islamic council every year. With our Zakat calculator, you can stay updated on the latest and act accordingly.
Zakat And Income Tax
Muslims who pay the Zakat and follow the salary deduction scheme can claim that payment as tax relief during filling their income tax as it prevents them from getting double-taxed within the same year.
Why Trust Fincrew Zakat Pendapatan Calculator
In a nutshell, we make Zakat payment in Malaysia a less stressful affair. Zakat calculator is updated using data from the Majlis Agama Wilayah Persekutuan and the Lembaga Zakat Selangor; you won’t have to go through all the hassle of finding and converting the value of gold and silver so that you can make an accurate Zakat collection! Once you provide your information, we’ll tell you just how much you’ve to pay, and you can use your credit card to do the rest!