AOA, Can I have information about Zakat and how do I know how much Alms(Zakat) I'm obligied to give? Jazakallah kheyr

Asked by a visitor.


بِسۡمِ ٱللَّهِ ٱلرَّحۡمَـٰنِ ٱلرَّحِيمِ


Zakat(Alms, Charity) is given after deducting the price for the absolute necessities of life which is his own, his wife's, children's and elderly parents expenses for food and drink, medical care, clothing and shelter and if he has a loan, that debt should also be deducted when calculating for Zakat. Unless he has 52.5 tola or 612.36 grams silver, or 7.5 tola or 87.48 grams of gold for a complete year. Then he is obliged to pay 2.5 percent of that property as Zakat. Currency notes and merchandises of trade/business are calculated by silver target-set.