In case of "paying debts", only the debts for the essential needs can be deducted from the income, not the payment of loan or debt which is for expanding the business, etc.

Note: His Eminence allows his Muqallids (i.e.

Rabi-Ul-Awwal 1442, Upcoming and published books Khums is to be paid when your khums day comes, and you have savings, irrespective of whether this comes from work or from support allowance, as long as it belongs to you. In this case, he has to pay khums on $ 60,000 which was definitely from the savings of the previous years. In the latter case, first one has to pay khums from the surplus of the income and then pay such debts from the remaining 80%. The new ruling can affect many people who have mortgages on their homes. Shar'ee) duty if you have no savings, © Ahlul Bayt Digital Islamic Library Project 1995-2020. , Shaykh Dr Zaid Alsalami is an Iraqi born scholar, raised in Australia. There are different opinions among the Ulama in this matter. If it is not used as one’s residence in a sufficient manner for a year, then this process will end. In the case of khums payment, it is not dependent on whether you work or not. You can calculate your income and your expenses for the whole year starting from the date you started earning, and take the savings (what is left with you after your spending) then take 20% of the savings and pay it as Khums.

However, the khums is not liable on dowry or inheritance except when one inherits from the least expected person; for example, a very remote relative from whom one does not expect to inherit. If khums becomes liable on any item of trade, it is haram to sell it before paying its khums. As such, khums is an act of worship and must be given with the right intention, i.e. The premiums paid for "permanent life insurance" cannot be counted as deductible expenses, rather it is a type of "saving" which will be paid either to the insured person himself (at the maturity of the policy) or to his heirs (in case of his death before the maturity). if the capital is not more than his annual expenditure, then he can use that capital to trade with, and there is no khums on it. Khums is one of the pillars of Islam. In this example, we can see that the total amount of £19,000 has been deducted from the surplus income (years 1-17), and the mortgage repayments for those years totalling £81,000 has also been a deductible expense, giving a total of £100,000 relief against the loan of £100,000. Khums is wajib on the profit or surplus of one's income after deducting the annual expenditure. Khums Calculator It can be confusing calculating exactly how much Khums we need to pay, use this easy calculator to find out what you need to pay this year. Khums is liable on … In this case, he can deduct £5,000 from the surplus income, and khums is only liable on the remaining £3,000. If the husband and wife both are earning, and both of them contribute in the family expenditure, then practically khums has to be paid by calculating the total income and then deducting the total expenditure of both of them collectively.

Once khums has been paid on a sum, that sum will no longer be liable for khums for as long as it remains.

The "dependents of a person" mean those persons whose maintenance is your responsibility. So if a non-baligh or an insane person gets any wealth which is more than his or her annual expenses, then there is no khums on that wealth at that time or at the time when he or she becomes baligh or sane respectively; or for that matter, it is not wajib even on their guardians. In case of a wage earning person, the "surplus" of the income means whatever remains after deducting the annual expenditure of oneself and one's dependents. For example, from 1960 to 1965, a person annually earned $ 20,000. If you are not working to earn a living – for example, you are retired, a housewife, a student, or unemployed – then you may take every income and gain to have its own period for a year. All new items that have not been used (even once) by the end of your khums year must be counted as your savings.

if the loss occurs in a commodity of a trader whose trading is not restricted to one type of commodity, then one is allowed to provide compensation from the profit before paying khums. If a person's income was not stable, in some years he had profited and in some he had been in loss, and he cannot determine whether he bought his various properties in the year of profit or loss -- then, such a person should explain his circumstances to the mujtahid and come to a compromise with him about the amount of khums. If a person is indebted with loans, it does not affect his obligation to pay khums on his new surplus income every year. This is a misconception. If his total income and his needs are equal, then there is no khums on him. When you received it back, you must pay its Khums immediately. If a person takes a 20-year mortgage of £100,000 to buy a house for his residence, his yearly repayments towards the capital loan amount will be £5,000. How do you calculate Khums on the revenue from your business account that has not yet been taxed? Note: Procurements for future years are not deductible expenses. The deductible household expenses include food, drink, accommodation, transportation, furniture, marriage expenses, medical expenses, payment of sadaqah, hajj, ziyarat, gifts, donations and charity, paying debts, legal penalties, wages of servants, insurance premiums, the amount deducted from your salary for mandatory provident fund or for mandatory pension plan, income tax, etc. This tax is paid to the imam, caliph or sultan, representing the state of Islam, for distribution between the orphans, the needy, and the [stranded] traveler.In Sunni Islam tradition, the scope of khums tax has been ghanim, which is defined as the spoils of war.

03 November 2020 / 17. © Ahlul Bayt Digital Islamic Library Project 1995-2020. During those years, he will not pay any khums. You can calculate your income and your expenses for the whole year starting from the date you started earning, and take the savings (what is left with you after your spending) then take 20% of the savings and pay it as Khums. The new ruling applies to all such loans, whether it is a small loan or a large one; and whether the loan is to be repaid in full by a particular date or in monthly or yearly instalments. Dr Mohammad Jafar Elmi was the founder of the Islamic College and served as its principal from 1998-2007 and from December 2011 to 2015. if he has come to own these items from the accumulated surplus of previous years, then it is wajib to pay khums from those items also. This does not apply to dower or inheritance which is not liable for khums. To make the meaning of this sentence more clear, let me explain the definition of "income," "surplus" and "expenditure". It does not make any difference whether the maintenance of these persons is obligatory on you (like wife, children and parents) or not obligatory (like a relative, a friend or an orphan). If you regularly visit this site and wish to show your appreciation, or if you wish to see further development of Al-Islam.org, please donate online. * If there has been zero surplus income, or if there was a loss that year, the figure will be zero. Renting of premises to be used as an office, shop, storage etc. If such a person is not in need of the capital, then he can use that amount to expand his already-existing business or to earn extra income only after paying khums from the entire amount. He obtained a BA from Al-Mustafa University, Qom, and an MA from the Islamic College in London. iii. on your surplus income. a high religious authority who can be followed in matters of Islamic law), or to an individual or organisation that has been given permission (ijaza) to collect khums on behalf of the Marja. In this example, we can see that the total amount of £70,000 has been deducted from the surplus income (years 1-18), and the mortgage payments for those years totalling £180,000 has also been a deductible expense, giving a total of £250,000 relief against the loan of £250,000. You can make your full khums payment, or either of the Sehm payments, online by visiting our donate portal and searching “khums”. Then at the end of 1965, he buys a house of $ 80,000. Sign up to our emails and be the first to know about our latest projects and how you can get involved. If you are earning a living by means of a single job, then a single year-end date must be specified for all incomes; that date will be the day you started work. Increase in by-product of a khums-free commodity: iii. Such a parent has two options: Either the parent spends the money for the child's maintenance; in this case, the family allowance has to be included in the income of the parent and counted accordingly. Answer: Both are obligatory; Khums is on the surplus to annual expenses. Here, no khums is payable that year, but the remaining amount (£4,000) cannot be deducted from the net income of the following year. sugar, 5 k.g. If a person dies before the end of his fiscal year, then how is his estate to be divided?

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