Zakat plays an important role in the economics system of Islam. The rulings about Zakat are crystal clear in the Quran and Sunnah (Shariah). From its collection to disbursement, all the stages are well defined in Islamic Fiqh. Nisab for Gold, Silver, Animals and Currency is fixed by the Sunnah of the Prophet (PBUH). The other things which come under nisab are Trade Commodities, Certificates and Bonds etc. Further, it is said that the amount on which Zakat is to be deducted must be in the possession of the owner for one year. However, the question which remained central point of discussion among the Ulama and Scholars is to whom it should be distributed at various times. This paper tries to answer this question and present comprehensively the views. The vans of the Jurists concerning this issue (nisab).