Zakat is an Arabic term, it denotes: growth, purity, and blessing. Quran: 24:56 (Surat Al-An-Nur) Allah says: ......And Perform As-salat and give Zakat and obey the Messenger (Muhamad S.A.W) - that you may receive mercy from Allah.

These are alms or charitable gifts donated voluntarily expressing sympathy with the recipient, not of duty or re-numeration. Swadaqah can be given anytime or Swadaqah is for those who are below the minumum ammount (Niswab) liable to payment of Zakat.

Waqf means: to donate, grant, create, and institute a valuable thing permanently for a pious or charitable purpose, seeking rewards from Allah. Or to bequeath as religious endowment something of value which can only be used for promotion of religion.

Zakat is paid by adult muslims who are mentally sane and have an amount of wealth above the nisab.

This is the amount of zakatable wealth which makes one liable for paying zakat.

A muslim person should have nisab for at least one year after which zakat becomes liable.