How is the zakat calculated for an amount that started accumulating in Muharram 1435 AH and increases monthly? Does the nisab for the entire revolving amount include a full hawl? What is the ruling on setting the end of Muharram as the date for paying zakat?
is obligatory on money saved in an account, and you have two options for paying it: 1. Establish a separate hawl (lunar year) for each salary or amount of money received, starting from its acquisition. 2. This is the easier and more beneficial method: Pay zakat on all the money you possess when a hawl passes on the first (minimum taxable amount) you owned. For example, if you acquired your first nisab in the month of Muharram, then in Muharram of the following year, you pay zakat on your entire saved balance.
If you do not know the beginning of the month in which the nisab was completed, then act according to your best judgment. As a precautionary measure and to clear your responsibility, set the beginning of the hawl from the first day of the month when in doubt, as delaying zakat is not permissible except for a valid excuse.
The amount of the nisab is the value of 85 grams of gold or 595 grams of silver, and the amount to be paid is a quarter of a tenth (2.5%).
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