Inorder to make sure that you pay a proportionate amount of Zakat for the underlying assets of a company in which you have shares, calculate the market value of your holdings, then take 25% of this value and apply the 2.5% Zakat to this amount. e.g. you have £10,000 of shares. Take 25%, i.e. £2,500 and pay Zakat of 2.5% = £62.50. Thehusband does not have to pay zakaah on the jewellery on his wife's behalf, because the zakaah is only obligatory on the possessor of the wealth, and the possessor in this case is your wife, because she is the owner of the jewellery. So she has to pay zakaah on it, either from the jewellery itself or from its monetary value. Accordingto the Inland Revenue Authority of Singapore (IRAS), Zakat is treated as an expense under Section 14 of the Income Tax Act, and is set off against the income of the contributing individual/organisation.Zakat contributions are NOT eligible for 2.5 times tax-deduction.. For example, if an individual pays $200 in Zakat, he or she is only entitled to claim $200 as an expense against his Sherecords her outstanding Zakat balance as $3,500. Added to her previous year's Zakat debt from her individual retirement account, that comes to a total Zakat debt to Allah of $6,500. In six months, Maryam will gain full and free access to her 401 (k) account. She then pays $250 a month for six months on her Zakat debt, or $1,500. Formore clarity, you should know that there are a few factors that decide whether the money transfer is taxable or not. If an amount is sent as a gift in the United States then you will be exempted from tax. However, there is a limit of amount to be gifted and that is $11.58 million and once you reach the limit you will have to pay taxes. 4baAuTg.

do i pay zakat on my salary