What is the amount of zakat due on savings, a bank balance, land offered for sale, and merchandise of a commercial company? Is it obligatory to separate between business and personal funds? What should one do if the cash balance is insufficient to pay zakat? Is one sinful for delaying zakat beyond its due date?

Zakat is an obligatory act of worship due immediately. It is not permissible to delay it except for a compelling reason, with the important note that there is no virtue in delaying it until Ramadan. Zakat becomes due on wealth that reaches the nisab and a full lunar year (hawl) has passed on it. The original capital along with its profits are subject to zakat, while a salary has its own independent hawl. The value of zakat is a quarter of a tenth (2.5%), calculated on the market value of commercial goods at the time zakat becomes due, as well as on land designated for trade. There is no need to differentiate between private and common funds when it comes to zakat. If cash is not available to pay zakat, it becomes a debt that remains a liability until one becomes able to pay it, and it is permissible to borrow money to fulfill it.