Zakatable assets

Definition of "Zakatable assets "

Zakatable assets (i.e. assets on which zakat is payable) includes business merchandise, gold, silver, cash, stocks, mutual funds, investments, unit trusts and equity investments, property and fixed assets, pensions, debts you are owed, business assets.

Zakat is not due on: houses used for residence, personal clothing, home furniture, kitchenware and chinaware for decoration, other than gold and silver made, books for non-trade purposes.