“Alms are for the poor and for the needy , and those employed to administer the (Funds), for those whose hearts have been (recently) reconciled (to truth); for those in bondage and for those in debt; and for the cause of Allah and for the wayfarer (Thus is it) ordained by Allah. And Allah has full knowledge and wisdom.” (Surah Taubah, 9: 60)

Hazrat Abu Hurrairah (RA) relates that the Prophet Mohammed (SAW) said whomsoever Allah gives wealth, but who does not pay its Zakaat, his wealth will be likened for him on the resurrection day to a huge bald snake having two fangs, it will bite him round his neck and take hold of him with his two fangs meaning its two jaws and say – I am your wealth and I am your hidden treasure. Then he recited “ And let not those who covetously withhold of that which Allah has bestowed on them out of his bounty.” (Bukhari)