#113
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by Muslim » Wed Sep 21, 2005 6:09 pm
zakat is calculated on the net saving, physical assests, etc. at the end of the year. it includes the cash value of all assests minus expenditures, not just savings. it in related to nisab, the current value of gold for the year.
My point was to illustrate that difference in zakat and khums at a high level. If you want to get technical, you are still wrong because you haven't excluded personal assets such as the house you live in, household goods and furniture. For most people who don't own a second home, their main assets are effectively their savings.
khums is 20% of the net saving, physical assest value, etc. at the end of the year, minus expenditures. it is not related to the current value of gold (ie nisab) and it is not just limited to the current year but is cummulative to what you have in hand.
That is simply a blatant lie. For anyone who has even a basic knowledge of Khums knows that, based on a Quranic verse, it is calculated on your gains (profits, earnings, whatever you call it) during the year, not your accumulated assets.
If you were paying 20% of your assets every year, you would be left with next to nothing within a few years.
I still wonder how you have been doing your "minimum as a shiah" without knowing even what the rate of zakat is!