Zakaat - Rules and modern issues

Zakaat on the wealth which exceeds the prescribed criterion

If gold/silver is present more than the prescribed criterion, then is Zakaat Compulsory on the excess amount as well?  There are some details regarding this.  If the excess amount is less than 5% of the prescribed criterion of gold/silver, then there is no Zakaat on the excess amount.  If the excess amount is more than 5% of the prescribed criterion, then Zakaat is Compulsory and 2.5% of that should be given as Zakaat.  Five percent of the prescribed criterion of gold is 12 grams 151 milligrams and 2.5% of this will be 304 milligrams.  For silver, 5% of the prescribed criterion is 85 grams 57 milligrams and 2.5% of this is 2 grams 126 milligrams.

          In light of the aforementioned details, it is Compulsory to give 2.5% of every excess 5% as Zakaat.  If the excess is less than 5% of the prescribed criterion, then there is no Zakaat on it.  As mentioned in Al Bahr Ur Raaiq, Vol. 2, Pg. No. 394/395.