PRINCIPLES OF ISLAM
There are 5 Tenets (pillars or principles) of Islam, (i) Shahadah (Iman - faith), (ii) Salah (Distinctive Submission - a form of Islamic Prayer ), (iii) Zakah (Islamic Charity), (iv) Sawm (Islamic Fasting), (v) Hajj (Pilgrimage to Makkah).
It is in Hadith - Narrated by Ibn Umar (رضئ اللہ تعالی عنہ) - Allah's Apostle (صلى الله عليه و آله وسلم) said - Islam is based on (the following) five (principles) - (i) 'there is no (real) god except Allah (سبحانہ و تعا لی) and Mohammad (صلى الله عليه و آله وسلم) is Allah's Apostle, (ii) to offer Salah ( prayers) dutifully and perfectly, (iii) to pay Zakat (Islamic charity), (iv) to perform Hajj (Pilgrimage to Makka), and (v) to observe fast during the month of Ramadhan. (Bukhari Book 2 Hadith 7 )
The Zakat is an obligatory charity for Muslims who have reached the age of puberty, are sane, free, and who own the minimum assigned wealth ( 85 grams of gold or 595 grams of pure silver or equivalent in cash or articles of trade). Muslims are required to pay 1/40th part of their surplus wealth to the designated needy, every lunar year.
Zakat is often described as purification of surplus wealth. The surplus wealth, in a given year, is the net balance amount, after we have spent on basic necessities, expenses, credits, and taxes. Zakat is generally given at the end of Hijri year or in the month of Ramadhan.
'Zakat' is mentioned in about 30 verses of Quran along with Salah, that shows its importance.
It is in Quran - وَأَقِيمُوا الصَّلَاةَ وَآتُوا الزَّكَاةَ وَأَقْرِضُوا اللَّهَ قَرْضًا حَسَنًا ۚ وَمَا تُقَدِّمُوا لِأَنفُسِكُم مِّنْ خَيْرٍ تَجِدُوهُ عِندَ اللَّهِ هُوَ خَيْرًا وَأَعْظَمَ أَجْرًا ۚ وَاسْتَغْفِرُوا اللَّهَ ۖ إِنَّ اللَّهَ غَفُورٌ رَّحِيمٌ [Establish Salah and give Zakah; and lend to Allah (سبحانہ و تعا لی) a beautiful loan. And whatever good you send forth for your selves, you shall find it with Allah (سبحانہ و تعا لی) better and greater in reward and you seek the grace of Allah (سبحانہ و تعا لی); for Allah (سبحانہ و تعا لی) is oft-forgiving, Most Merciful.] (Al-Muuzammil - 20)
It is in Quran - فَإِن تَابُوا وَأَقَامُوا الصَّلَاةَ وَآتَوُا الزَّكَاةَ فَإِخْوَانُكُمْ فِي الدِّينِ ۗ وَنُفَصِّلُ الْآيَاتِ لِقَوْمٍ يَعْلَمُونَ [But (even so), if they repent; (and) establish Salah and Zakah, they are your brethren in Faith: (thus) do We explain the Signs in detail, for those who understand.] (At-Tauba - 11)
It is in Quran - وَمَا أُمِرُوا إِلَّا لِيَعْبُدُوا اللَّهَ مُخْلِصِينَ لَهُ الدِّينَ حُنَفَاءَ وَيُقِيمُوا الصَّلَاةَ وَيُؤْتُوا الزَّكَاةَ ۚ وَذَٰلِكَ دِينُ الْقَيِّمَةِ [They were enjoined only to worship Allah (سبحانہ و تعا لی), sincere in their faith in Him alone - and of upright religion - and to establish the Salah and the Zakah. Such is the upright religion.] (Al-Bayyana - 5)
It is in Quran - يَا أَيُّهَا الَّذِينَ آمَنُوا إِنَّ كَثِيرًا مِّنَ الْأَحْبَارِ وَالرُّهْبَانِ لَيَأْكُلُونَ أَمْوَالَ النَّاسِ بِالْبَاطِلِ وَيَصُدُّونَ عَن سَبِيلِ اللَّهِ ۗ وَالَّذِينَ يَكْنِزُونَ الذَّهَبَ وَالْفِضَّةَ وَلَا يُنفِقُونَهَا فِي سَبِيلِ اللَّهِ فَبَشِّرْهُم بِعَذَابٍ أَلِيمٍ - يَوْمَ يُحْمَىٰ عَلَيْهَا فِي نَارِ جَهَنَّمَ فَتُكْوَىٰ بِهَا جِبَاهُهُمْ وَجُنُوبُهُمْ وَظُهُورُهُمْ ۖ هَـٰذَا مَا كَنَزْتُمْ لِأَنفُسِكُمْ فَذُوقُوا مَا كُنتُمْ تَكْنِزُونَ [Those who lay up treasures of gold and silver and spend them not in the way of Allah (سبحانہ و تعا لی); give them the news of a painful punishment, on the Day when that (wealth) will be heated in hellfire, and their foreheads and their sides and their backs branded therewith : "This is the treasure which you laid up for yourselves! Taste, then, your hoarded treasure!] (At-Tauba - 34-35).
It is in Quran - إِنَّمَا الصَّدَقَاتُ لِلْفُقَرَاءِ وَالْمَسَاكِينِ وَالْعَامِلِينَ عَلَيْهَا وَالْمُؤَلَّفَةِ قُلُوبُهُمْ وَفِي الرِّقَابِ وَالْغَارِمِينَ وَفِي سَبِيلِ اللَّهِ وَابْنِ السَّبِيلِ ۖ فَرِيضَةً مِّنَ اللَّهِ ۗ وَاللَّهُ عَلِيمٌ حَكِيمٌ [ Sadaqa is for the poor and the needy, and those employed to administer the (funds); for those whose hearts have been (recently) reconciled (to the truth); for those in bondage and in debt; in the cause of Allah (سبحانہ و تعا لی); and for the wayfarer: (thus is it) ordained by Allah (سبحانہ و تعا لی). And Allâh (سبحانہ و تعا لی) is All-Knower, All-Wise.] (At-Tauba - 60)
It is in Quran - وَلَا يَحْسَبَنَّ الَّذِينَ يَبْخَلُونَ بِمَا آتَاهُمُ اللَّهُ مِن فَضْلِهِ هُوَ خَيْرًا لَّهُم ۖ بَلْ هُوَ شَرٌّ لَّهُمْ ۖ سَيُطَوَّقُونَ مَا بَخِلُوا بِهِ يَوْمَ الْقِيَامَةِ [And those who are miser in what has been given to them by Allah (سبحانہ و تعا لی) by His grace should not think that it is good for them; on the contrary it is bad for them. The riches they have piled up shall become their necklace on the Day of Judgment. ] (Aal-e-Imran -180).It is in Hadith - The Prophet (صلى الله عليه و آله وسلم) is reported to have said that there are 360 joints in a human body. Man should give charity for each of those joints. The Companions asked: 'O Prophet (صلى الله عليه و آله وسلم) who has the ability to give so much charity? ' The Prophet (صلى الله عليه و آله وسلم) replied: 'To clean any filth or dirt in the Masjid, or remove some harmful object from the road, is also charity. If you do not find something which would be a charity equivalent to the 360 joints, then the two Rakahs of Ishraq Salah will be enough for you.' (Mishkat, Abu Da'ud).
It is in Hadith - The Apostle of Allah (صلى الله عليه و آله وسلم) said : To whoever Allah (سبحانہ و تعا لی) has given wealth and he did not fulfill his right from his wealth, his wealth on the Day of Qiyamah will take up the shape of a bald snake, - whose hair has fallen out because of its poison and who would have two black dots on its eyes. The snake will be made into his necklace and it will grab both jaws and say 'I am your wealth, I am your treasure'. Then the Prophet (سبحانہ و تعا لی) recited the verse - وَلَا يَحْسَبَنَّ الَّذِينَ يَبْخَلُونَ بِمَا آتَاهُمُ اللَّهُ مِن فَضْلِهِ هُوَ خَيْرًا لَّهُم ۖ بَلْ هُوَ شَرٌّ لَّهُمْ ۖ سَيُطَوَّقُونَ مَا بَخِلُوا بِهِ يَوْمَ الْقِيَامَةِ [And those who are miser in what has been given to them by Allah (سبحانہ و تعا لی) by His grace should not think that it is good for them; on the contrary it is bad for them. The riches they have piled up shall become their necklace on the Day of Judgment. ] (Aal-e-Imran -180). (Bukhari ).
It is in Hadith - The Apostle of Allah (صلى الله عليه و آله وسلم) said : For every wealth owner who did not fulfill his right from his wealth, his wealth will come on the day of Qiyamah in the shape of a bald snake, who will have its mouth open. When it comes close towards the wealth owner, the wealth owner will run away from it. The snake will call out to him 'come take the wealth which you hid for I don't need it.' When the wealth owner (in despair) sees no other way he will put his hand into the mouth of the snake. The snake will chew his hand like a bull chews something. (Muslim).
It is in Hadith - 'Two women wearing gold bracelets came into the presence of the Prophet (صلى الله عليه و آله وسلم). The Prophet (صلى الله عليه و آله وسلم) asked them, " Would you prefer that Allah (سبحانہ و تعا لی) should give you bracelets of fire to wear on the day of Qiyamah? They replied, " No, O' Blessed Prophet.(صلى الله عليه و آله وسلم). The Prophet (صلى الله عليه و آله وسلم) replied, " So give what is your duty on what you have in your hands. " (Ahmad).