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Zakat is a compulsion in which Muslims are supposed to pay only 2.5% of the wealth only on which they have had for a full lunar year. However person's house and personal transportation is exempt from Zakat.
The best part of Zakat is distribution of wealth among the needy, thus enhancing social life. People who are in debt, who cannot afford their basic needs and those who are dependent on tohers for their basic needs(Like beggars etc) and travelers who during their journey do not possess
basic necessities, even If they have them at homeare some who are entitled to receive Zakat. In this way their needs get fulfilled. It is also a way of reducing gap between poor and rich. Zakat encourages that people should invest their money instead of storing them. Also visit Zakat calculator and Zakat for more on this topic.
The best part of Zakat is distribution of wealth among the needy, thus enhancing social life. People who are in debt, who cannot afford their basic needs and those who are dependent on tohers for their basic needs(Like beggars etc) and travelers who during their journey do not possess
basic necessities, even If they have them at homeare some who are entitled to receive Zakat. In this way their needs get fulfilled. It is also a way of reducing gap between poor and rich. Zakat encourages that people should invest their money instead of storing them. Also visit Zakat calculator and Zakat for more on this topic.
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