How is Zakat on money calculated, what is its nisab, is the nisab of gold equivalent to that of silver, and when is Zakat due on money that has been held for a full year with its increase, and is Ramadan considered an annual due date for Zakat if one started paying it in that month?

The nisab (threshold) for monetary assets is equivalent to 85 grams of pure gold, or 595 grams of pure silver, and what is more beneficial for the poor should be considered. If a person owns this nisab and a full lunar year passes while they possess it, zakat becomes obligatory on them at a rate of 2.5% (a quarter of a tenth). It is not permissible to delay zakat beyond its due time. Funds acquired that are of the same type as the nisab, if they are profit from it, are subject to zakat along with it. If they are not profit from it, the zakat payer has the choice to either pay zakat on them along with the original nisab, or to establish a separate hawl (lunar year) for them.