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Zakat or alms-giving is the practice of charitable giving by Muslims based on accumulated wealth, and is obligatory for all who are able to do so. It is considered to be a per â¦ sonal responsibility for Muslims to ease economic hardship for others and eliminate inequality.
To receive the exclusion for the educational and medical gifts, you must give this gift directly to the medical or educational institution. For example, if your aunt is having surgery that will cost $50,000 and you want to provide your aunt the money for the surgery, you must give the $50,000 directly to the hospital.n 2015, a taxpayer can give up to $14,000 per person per year without being taxed on the gift. For example, this year you could give Friend A $14,000, Friend B $14,000, and your sister $14,000 and not be taxed on your gifts.