Zakaat collection crosses 1000 crore in Hyderabad Zakaat, is one of the five pillars of Islam. It is an obligatory system of charity for every affluent Muslim for economic inequality. Islamic scholars calculate the Zakaat according their income. If the person’s assets cross the ‘Nisab’ (minimum value)  which is the current market price of 87.48 gm of gold or 612.36 gm of silver has to pay 2.5 percent Islamic annual tax on his wealth. According to the sources […]