Do You Need to Pay Zakat or Offer Qurbani on Gold?
Question: What is the equivalent of 85 grams of gold in tola? I have three tolas of gold, and a year has passed on it. Should I pay Zakat on it? And does having three tolas of gold require me to offer a sacrifice (Qurbani)?
Answer: 85 grams of gold equals seven and a half tolas. Whoever possesses seven and a half tolas or more (i.e., 85 grams or more) of gold, and a year has passed on it, must pay 2.5% of its value as Zakat. Since you have less than the threshold amount (Nisab), you are not required to pay Zakat. Additionally, Qurbani has no connection with gold or silver. Qurbani is a separate matter and is obligatory for those who can afford to buy the sacrificial animal.
Respondent: Sheikh Maqbool Ahmed Salafi Hafizahullah
Jeddah Dawah Center, Saudi Arabia
Interpreter: Hasan Fuzail