Ayah

Word by Word
يَٰٓأَيُّهَا
O you
ٱلَّذِينَ
who
ءَامَنُواْ
believe
لَا
(Do) not
تُحَرِّمُواْ
make unlawful
طَيِّبَٰتِ
(the) good things
مَآ
(of) what
أَحَلَّ
has (been) made lawful
ٱللَّهُ
(by) Allah
لَكُمۡ
for you
وَلَا
and (do) not
تَعۡتَدُوٓاْۚ
transgress
إِنَّ
Indeed
ٱللَّهَ
Allah
لَا
(does) not
يُحِبُّ
love
ٱلۡمُعۡتَدِينَ
the transgressors
يَٰٓأَيُّهَا
O you
ٱلَّذِينَ
who
ءَامَنُواْ
believe
لَا
(Do) not
تُحَرِّمُواْ
make unlawful
طَيِّبَٰتِ
(the) good things
مَآ
(of) what
أَحَلَّ
has (been) made lawful
ٱللَّهُ
(by) Allah
لَكُمۡ
for you
وَلَا
and (do) not
تَعۡتَدُوٓاْۚ
transgress
إِنَّ
Indeed
ٱللَّهَ
Allah
لَا
(does) not
يُحِبُّ
love
ٱلۡمُعۡتَدِينَ
the transgressors
Translation

O ye who believe! make not unlawful the good things which Allah hath made lawful for you, but commit no excess: for Allah loveth not those given to excess.
Tafsir

When a number of Companions resolved to practise fasting and night vigil continuously, and to abstain from women, perfume, consumption of meat, and sleeping on beds, the following was revealed: O you who believe, do not forbid the good things that God has made lawful for you and do not transgress, do [not] exceed God's command; God does not love transgressors.
"There is No Monasticism in Islam
Allah says;
يَا أَيُّهَا الَّذِينَ امَنُواۡ لَا تُحَرِّمُواۡ طَيِّبَاتِ مَا أَحَلَّ اللّهُ لَكُمۡ
O you who believe! Make not unlawful the good things which Allah has made lawful to you,
Ali bin Abi Talhah said that Ibn Abbas said,
""""This Ayah was revealed about some of the Companions of the Prophet who said, `We should cut off our male organs, abandon the desires of this life and travel in the land, just as the Ruhban (monks) do.' When the Prophet heard of this statement, he summoned them and asked them if they made this statement and they answered `Yes.'
The Prophet said,
لكِنِّي أَصُومُ وَأُفۡطِرُ وَأُصَلِّي وَأَنَامُ وَأَنۡكِحُ النِّسَاءَ فَمَنۡ أَخَذَ بِسُنَّتِي فَهُوَ مِنِّي وَمَنۡ لَمۡ يَأۡخُذۡ بِسُنَّتِي فَلَيۡسَ مِنِّي
I fast and break my fast, pray and sleep, and marry women. Whoever follows my Sunnah is of me, and whoever abandons my Sunnah is not of me.""""
Ibn Abi Hatim also collected this Hadith.
Ibn Marduwyah recorded that Al-Awfi said that Ibn Abbas narrated a similar Hadith.
It is recorded in the Two Sahihs that Aishah said that;
some of the Companions asked the wives of the Prophet about the acts of worship that he performed in private.
One of them said, """"I will not eat meat,"""" another said, """"I will not marry women,"""" while the third said, """"I will not sleep on the bed.""""
When the Prophet heard this statement, he said,
مَا بَالُ أَقۡوَامٍ يَقُولُ أَحَدُهُمۡ كَذَا وَكَذَا لكِنِّي أَصُومُ وَأُفۡطِرُ وَأَنَامُ وَأَقُومُ وَاكُلُ اللَّحۡمَ وَأَتَزَوَّجُ النِّسَاءَ فَمَنۡ رَغِبَ عَنۡ سُنَّتِي فَلَيۡسَ مِنِّي
What is the matter with some people who said such and such I fast and break the fast, sleep and wake to stand to pray, eat meat, and marry women. He who is not pleased with my Sunnah is not of me.
Allah's statement,
وَلَا تَعۡتَدُواۡ
and transgress not,
means, do not exaggerate and make it hard for yourselves by prohibiting the permissible things. Do not transgress the limits by excessively indulging in the permissible matters; only use of it what satisfies your need; and do not fall into extravagance.
Allah said in other Ayat,
وكُلُواۡ وَاشۡرَبُواۡ وَلَا تُسۡرِفُواۡ
And eat and drink but waste not by extravagance. (7:31)
and,
وَالَّذِينَ إِذَا أَنفَقُواۡ لَمۡ يُسۡرِفُواۡ وَلَمۡ يَقۡتُرُواۡ وَكَانَ بَيۡنَ ذَلِكَ قَوَاماً
And those, who, when they spend, are neither extravagant nor miserly, but hold a medium (way) between those (extremes). (25:67)
So Allah legislated a medium way between those who are extreme and those who fall into shortcomings, and it does not allow excessive application, nor lack of application.
This is why Allah said here,
لَا تُحَرِّمُواۡ طَيِّبَاتِ مَا أَحَلَّ اللّهُ لَكُمۡ
وَلَا تَعۡتَدُواۡ
إِنَّ اللّهَ لَا يُحِبُّ الۡمُعۡتَدِينَ
Make not unlawful the good things which Allah has made lawful to you, and transgress not. Verily, Allah does not like the transgressors.
then He said""
""وَكُلُواۡ مِمَّا رَزَقَكُمُ اللّهُ حَلَلاً طَيِّبًا
And eat of the things which Allah has provided for you, lawful and good,
eat of those items that are pure and lawful for you,
وَاتَّقُواۡ اللّهَ
and have Taqwa of Allah,
in all your affairs, obey Him and seek His pleasure, all the while staying away from defiance and disobedience of Allah,
وَاتَّقُواۡ اللّهَ الَّذِيَ أَنتُم بِهِ مُوۡمِنُونَ
and have Taqwa of Allah in Whom you believe."
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