Calculating Zakah of gold, silver and money

I would like to know whether the calculation for Zakah mentioned below is correct: Total Cash Saved during a year: Rs.XXXXX Total Value of Gold & Silver: Rs.YYYYY Less: Balance of Loan to be paid taken For purchase of plot last year:Rs.ZZZZ 2.5% on Net Balance = Zakah Amount Please if u can clarify that the method which I have applied is correct. Also I am based in UAE and convert the amount in Rupees at the prevailing rate.

Praise be to Allah, the Lord of the Worlds; and may His blessings and peace be upon our Prophet Muhammad and upon all his Family and Companions. Gold and silver complement each other and are added to the deposited money to makeup the Zakah Nisaab. Now, if all three (money, gold, silver) added together reach the Nisaab (value of 85 grams of gold or value of 500 grams of silver) and if this Nisaab has been owned for a lunar year, then its Zakah becomes obligatory and it is 2.5% of the value. This should be done in the way you mentioned in your question, i.e. (total cash deposited for a year + total value of gold and silver) and giving out 2.5% of this amount. Now if the debts of the owner of these properties exceed the value of the properties themselves, then he does not have to pay any Zakah unless he owns other properties that are more than his necessity on which Zakah is not due and that could pay these debts, in this case, he does not deduce the value of debt from the Zakah money. The questioner should know that Zakah is due only on the gold and silver if deposited or if used in trade. However, if this gold or silver is for private use as jewelry, then no Zakah is due on it according to the majority of scholars. As for your sending your Zakah to India, it is lawful to do so if there are people there who are poorer than the ones with whom you live and there is no harm to pay it in Rupees at its prevailing rate. Allah knows best.