Ask Qul - Zakaat & Khums - determineing the market value

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Question : #749

Category: Zakaat & Khums

Subject:	determineing the market value
Question:	how to determine the market value to give khums?
Answer:	Khums is not determined by market value as it is an Islamic tax, paid at the rate of one-fifth or 20 percent of annual saving or surplus of income. The saving or surplus amount can be determined by subtracting yearly eligible expenses from annual income. Grand Ayatullah Sayyid Ali Husayni Sistani has discussed the topic in detail in Rulings 1760 through 1860, visit web site www.sistani.org. A review of those rulings is necessary by every Muslim so as to identify certain conditions, incomes, expenses, or circumstances under which either the Khums is binding or exempt.

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