When my dad retired. He got a settlement, and a good part of it was put in as a bank fixed deposit since 2018, No zakat has been calculated it on it so far. I have the following questions,
- How do you calculate the Zakat’able amount? It’s above Nisaab. I was thinking of 2.5% of the amount minus the expenses and losses (devastating floods) over the period.
- Is there any other measures we need to take for being ignorant and not paying it for this long