• For those assets on which Zakat is payable on compulsory basis according to the Section 2 (xvii) of the Zakat and Ushr Act, 1985 are given in Schedule 1.
• On such assets, the duty of calculating Zakat according to Nisab on the deduction date i.e., "First Ramazan Ul Mubarik" rests on the concerned Financial Institution (Deducting Agency)
• The rate and basis for the calculations are specified. For this purpose in Schedule - I
• First Ramazan Ul Mubarik deemed to be a Public holiday for banks to perform duty of Zakat deduction

	Zakat is deducted from every Sahib-e-Nisab who owns or possesses such assets as mentioned in Schedule 1 of Act on the Valuation Date
	Nisab defined in relation to assets liable to Zakat means:
	612.32 grams of silver or equivalent cash or gold or Goods for trade or any assets liable to Zakat under Shariah, As notified by the Chief Administrator Zakat for each Zakat year on valuation date (i.e. 1st of Ramadan-ul-Mubarak)

Complete detail of items not subject to compulsory levy of Zakat but on which Zakat is Payable by every Sahib-e-Nisab according to the relevant Nisab, on self-assessment basis is given in Schedule 2 of the Zakat and Ushr Act, 1985.

For these items it is the duty of Sahib-e-Nisab to calculate payable amount of Zakat according to the value of asset.

Such assets may include gold, silver or cash at home. Animals

For this purpose it is the duty of Sahib-e-Nisab to count animals and then he can pay the amount of pay able Zakat in currency form to AJK Zakat Fund.

it is also the duty of Sahib e Nisab to Calculate the value of Gold, Jewlery and other assetts on which Zakat is payable and to pay the amount in Zakat Fund

The Sahib e Nisab can also calcuate the amount kept in current and similar accounts and the due Zakat is then payble at the rate of 2.5% in Zakat Fund Accounts (See how to donate towrard AJK Zakat Fund)

(See also Importance of Zakat in Islam....)

Schedule I | Schedule II