Taxable Limit of Silver
Issue No. 1616- Silver also has two taxable limits:The first taxable limit is 140 mithqāls (equal to 483.84 gms). When the quantity of silver reaches that limit, and other conditions are also present, one should pay one-fortieth (2.5%) of it as zakāt, and if the quantity of silver does not reach the aforesaid limit, it is not obligatory to pay zakāt on it.The second taxable limit of silver is when there is an addition of 28 mithqāls (equal to 96.76 gms). Therefore if an addition of 28 mithqāls takes place to 140 mithqāls, the person concerned should pay zakāt on 168 mithqāls, and if the addition is less than 28 mithqāls, he should pay zakāt on 140 mithqāls only and no zakāt is payable on the additional quantity. The same rule applies as and when further additions take place in the quantity of silver. However, in order for the calculation to be easy, if a person gives 2.5% of the gold or silver, which he possesses, he has paid the zakāt, which was obligatory on him, and sometimes he pays even more than the obligatory quantity.
