Zakat

Zakat زکوۃ

Zakat is fourth Islamic Pillar. It is a religious obligation for all Muslims who meet the necessary criteria of wealth. Zakat is based on income and value of man's possessions. It is 2.5% of a Muslim's total savings and wealth above a minimum amount known as Nisab. However in different Fiqh, Nisab is also a little bit difference. The amount is paid first to Zakat Collectors and then poor Muslims.

Hazrat Muhammad (PBUH) said, On the day of resurrection camels will come to their owner in the best state of health they have ever had (in the world), and if he had not paid their Zakat (in the world) then they would tread him with their feet; and similarly, sheep will come to their owner in the best state of health they have ever had in the world, and if he had not paid their Zakat, then they would tread him with their hooves and would butt him with their horns. "Hazrat Muhammad said the One of their rights is that they should be milked while water is kept in front of them," added "I do not want anyone of you to come to me on the Day of Resurrection, carrying over his neck a sheep that will be bleating. Such a person will (then) say, O Muhammad Please intercede for me, I will say to him. I can't help you for I conveyed Allah's message to you."

Narrated Abu Huraira: 

Volume 2, Book 24, Number 485: Sahih Bukhari