CHAPTER: On Giving All The Property As Sadaqah By A Mam.
Narrated Jabir ibn Abdullah Al-Ansari: While we were sitting with the Messenger of Allah صلی اللہ علیہ وسلم a man brought him some gold equal in weight to an egg, and said: Messenger of Allah, I have got this from a mine; take it; it is sadaqah. I have no more than this. The Messenger of Allah صلی اللہ علیہ وسلم turned his attention from him. Then he came to him from his right side and repeated the same words. But he (the Prophet) turned his attention from him. He then came to him from his left side and repeated the same words. But he (again) turned his attention from him. He then came to him from behind. The Messenger of Allah صلی اللہ علیہ وسلم took it and threw it away. Had it hit him, it would have hurt him or wounded him. The Messenger of Allah صلی اللہ علیہ وسلم said: One of you brings all that he possesses and says: This is sadaqah. Then he sits down and spreads his hand before the people. The best sadaqah is that which leaves a competence.
The above mentioned tradition has also been transmitted by Ibn Ishaq through a different chain of narrators to the same effect. This version adds have your property with you from us. We have no need of it.
Narrated Abu Saeed al-Khudri: A man entered the mosque. The Prophet صلی اللہ علیہ وسلم commanded the people to throw their clothes as sadaqah. Thereupon they threw their clothes (as sadaqah). He then asked him to take two clothes from them. He reprimanded him and said: Take your clothe.
Abu Hurairah reported the Messenger of Allah صلی اللہ علیہ وسلم as saying The best sadaqah is that which leaves a competence ; and begin with those for whom you are responsible.