Khums Calculation

Surplus

Amount you own, in US Dollars ?

Calculated on your khums due date.

Equivalent amount, in US Dollars, of foreign currency you own ?

Calculated on your khums due date.

Debts owed to you that you expect to be repaid ?

Do not include this if it was accounted for in previous financial years.

In-kind possessions not used for sustenance ?

This includes buildings, farms, factories, commodities, work tools, and any household items or possessions not used for sustenance. Calculate these at present value if they were acquired with surplus income on which a year has not elapsed, and at cost price if they were acquired with surplus income on which a year has elapsed. If acquired with a combination of income, then calculate these at present value in relation to what was acquired with surplus income on which a year has not elapsed, and at cost price in relation to what was acquired with surplus income on which a year has elapsed.

Financial dues ?

This includes the due of key premium (surqufliah), the due of utilizing agricultural lands owned by the state, and the due of revival of lands which are fenced and prepared for residency. Calculate these at present value if they were acquired with surplus income on which a year has not elapsed, and at cost price if they were acquired with surplus income on which a year has elapsed. If acquired with a combination of income, then calculate these at present value in relation to what was acquired with surplus income on which a year has not elapsed, and at cost price in relation to what was acquired with surplus income on which a year has elapsed.

Amount you utilized prior to your khums due date ?

This is cash which was subject to khums prior to your khums due date, and which you have already spent (e.g. If this is the first year you pay khums, despite having needed to pay khums in previous years)

Fungible items you utilized prior to your khums due date ?

These are fungible items which were subject to khums prior to your khums due date, and which you have already utilized. Calculate these according to present value. Fungible items are those which are freely exchangeable or replaceable, in whole or in part, for another item of a similar nature, such as machinery or factory-produced fabrics.

Non-fungible items you utilized prior to your khums due date ?

These are non-fungible items which were subject to khums prior to your khums due date, and which you have already utilized. Calculate these according to their value at point of utilization. Non–fungible items are unique items, such as unique paintings, monuments, and unique jewelry.

Amount you already paid with intention of Sahm Al-Imam ?

Amount you paid with the intention of Sahm Al-Imam before your khums due date.

Amount you already paid with intention of Sahm Al-Sada ?

Amount you paid with the intention of Sahm Al-Sada before your khums due date.

Deductions

Commercial debts ?

Include all commercial debts you still owe others.

Remaining sustenance debts taken in the financial year ?

Includes debts borrowed in the financial year for accommodation (mortgage), a car, etc. Please refer to more detailed rulings for accounting for mortgages.

Remaining sustenance debts taken in previous financial years ?

Includes debts borrowed in the previous financial year for accommodation (mortgage), a car, etc. The asset (house, car, etc.) must still be in your possession. Calculate only the amount that you have not deducted from your profits in previous financial years. Please refer to more detailed rulings for accounting for mortgages.

Amount you own which has already been subjected to khums ?

Calculated on your khums due date. Includes the remainder of funds that were subject to khums in previous years and on which you have already paid khums.

Notes

1) Your khums due date is the first day you started your job or business. If you are retired or not in employment, then you can agree a khums due date with a representative of the marja'a, or calculate separate khums years for each profit that you make, from the date you made that profit.
2) The khums of commercial commodities and real estate(s) which are intended for trading, should be paid in accordance with their current market value, even if they were bought with profits which a year has elapsed on, unless the price at which they were bought is higher than the current value.
3) If the calculations show that the amount of khums due is negative as a result of sustenance debts, then the amount of the sustenance debt equivalent to the amount of khums due for the rest of the item is calculated and excluded.
4) If sustenance debts are fully repaid in the financial year, this amount is excluded from the profits.
5) Possessions which are not subject to khums are:
1. a. Possessions owned through inheritance:
2. i. Cash
3. ii. Real Estate
4. iii. Objects that are transferrable and the like
5. b. Possessions owned by the wife from the dowry (mahr):
6. i. Cash
7. ii. Gold Jewellery
8. iii. Home furniture and the like
9. c. Possessions used for personal or family provisions from the profits of that financial year:
10. i. Home residence
11. ii. Home furniture and other household items
12. iii. Gardens used for leisure and to personally benefit from their fruit
13. iv. Personal or family cars
14. v. Animals that are benefited from by the household such as a cow for milk or a chicken for eggs
15. d. Debts owed by others that you do not expect to be repaid.
16. e. Items purchased through debt that has not yet been repaid.

Total amount subject to Khums $0

Khums Due $0

Sahm al Imam to be paid $0

Sahm al Sada to be paid $0

Email me Khums report

Ramadan 2021 Report

02 June 2021

In the name of Allah, the Most Beneficient, the Most Merciful,

In a hadith narrated by the Ahlulbayt, it is said that “He who does not thank the creation, has not thanked the Creator.”

Al-Ayn Social Care Foundation – USA would like to extend their deepest thanks to all who contributed to the success of our Annual Ramadan 2021 campaign. This year’s campaign was “Like a Seed” and was geared towards the construction of 12 Luminous Stars Centers across Iraq.

We would like to especially thank our generous donors who never cease to support orphans in need. Without you, we would not have been able to succeed in our cause and fundraise over 552,000 dollars within the Holy Month. We were able to achieve our goal for this campaign, collect more than 1,000 food baskets for orphans in poverty, and hundreds of gifts.

Of course, we cannot forget the efforts and dedication of our United States team during the last month, located in Michigan, California, and Texas. They all put forth their best work and devoted their time towards ensuring this campaign is successful.

Moreover, we would like to give a special mention to our representatives throughout the United States, as well our volunteers in Michigan, California, and Texas. They hosted several events and activities to fundraise for our “Like a Seed” campaign and ensure that every orphan registered with our foundation has the potential to have a brighter future.

In spite of all the trials and tribulations we faced, with your monetary, marketing, and moral support, we would not have been able to make this campaign’s success a reality, nor would we have been able to bring smiles and joy to orphans throughout Iraq by constructing the Luminous Stars Centers. The Luminous Stars Centers will have vocational training, healthcare, psychological rehabilitation, and will exist for the sole purpose of serving the orphans and providing them with a path to success.

Our campaign is still ongoing and collecting funds to complete the construction of the 12 buildings across 12 different provinces in Iraq. We, along with hundreds of orphans, await your support, as always. Inshallah, with your generous donations, dedicated efforts, and your prayers, we will be able to complete this campaign.

Thank you, to each and every person who contributed to the construction of these buildings – a brighter future for our orphans.

For more information and updates, visit the link below:

www.al-ayn.org/stars

For further inquiries, call us at the following numbers:

(313) 724-7690 – Main office, Michigan

(714) 215-4774 – California Branch

(682) 410-0180 – Texas Branch

#Thank_You #Al_Ayn #Like_A_Seed #Ramadan2021