I calculated my zakat in the app a few days ago and noted the zakat owed per share of holdings. I have recalculated today and the zakat per share of the SAME stocks is different. Changes in my cash or the price of the stocks should be irrelevant since I am using the asset based calculation. The current assets from the balance sheet of my holdings haven’t changed in the past few days. FYI, the value has gone down significantly, so any possible dividend reinvestments are not responsible. Could this be a bug in app?
The asset-based calculation depends on two things that can change over time: stock price and outstanding shares.
The price matters because it determines the current market value of your holdings, and it updates in real-time. Outstanding shares are used to calculate your share of the company’s zakatable assets, and they’re updated quarterly. Since each company reports these numbers on different dates, you may see some fluctuation whenever you recalculate your zakat.
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Can you clarify, the asset-based calculation should not involve price or market value. According to this Zoya page, zakat/share is based on the current assets divided outstanding shares.
Assalamu alaikum Br. Saad. I noticed what seems to be a bug in the zakat calculator. I just started using Zoya and the App.
On one of the accounts I synced, the zakat liable asset value is more than the actual value of the account - that is clearly not accurate. On the other accounts, the calculator seems to have worked properly.
Is there someone I can reach out to share details so they can debug ?
JAK
This can happen when the value of a company’s assets is higher than its market cap. If you share the stock symbol, I can check and confirm.
You’re right—I misspoke. Stock price isn’t part of the equation. Appreciate the correction.
It’s not one company, it is a group of companies.
But it is an individual IRA ( solo 401K ) account. Does that change the calculation method ?
If so, what is the rationale ?
Happy to share the list of companies separately if there’s a private channel for me to share with you .