Latest news with #Azeez
Daily Mirror
2 days ago
- Business
- Daily Mirror
'HMRC said I was entitled to tax refund but I was floored by how much I was owed'
Azeez was left totally floored after discovering how much he was owed in a tax refund. He shared the news in a viral video, but he had a pretty big message for HMRC You might be sitting on a tax rebate without even realising it, and there's an easy way to check if you're due a refund. With viral videos circulating online of people claiming back hundreds or even thousands of pounds, one man was over the moon to learn he had some cash coming his way. Azeez, who goes by on TikTok, shared his excitement when HMRC (Her Majesty's Revenue and Customs) notified him that he'd overpaid on his taxes. Anticipating a hefty sum after seeing others pocket substantial refunds, Azeez was eager to find out what he was owed. The buzz around tax rebates has been growing, with many Brits discussing their own windfalls and others uncovering a tax loophole to try and shrink their bills. He recounted his experience, saying: "They said I paid too much tax, I was like 'yes - my time has come.' I was even waiting. I was like let me see how much it is. I hope it's a lot. I'm already planning my next holiday. Then I see how much it is." However, Azeez's high hopes came crashing down when he discovered the refund amount was a mere £12.54, leaving him utterly gobsmacked. He humorously expressed his frustration, admitting he was "so annoyed" that he ended up hiding the amount after flashing it a few times. He remarked: "Me personally, I think there should be a threshold. There should be a certain amount before they can message you telling you you've paid too much tax. "It should be minimum £500. If it's anything below £500, stop messaging me, just give it back to me. Anything under £500 - don't let us know. "Anything over £500, then you can send an email, because why are you going to send me an email to say that you owe me £12.54? You know what, I'm not even claiming it back. It's going to stay there." Azeez expressed his frustration with the trivial sum, suggesting it "wasn't worth" the hassle of claiming. He believes it would be more sensible for them to deduct it from a future bill or add it to his wages, as the notification had raised his expectations a little too much. The clip has since gone viral, racking up over 80,000 views, and has sparked a flurry of comments, with more than 1,000 people weighing in. One user joked: "Don't spend it all at once." Another shared their joy: "I got £1,300. I was buzzing." A third person revealed: "I got nearly £800. Going to book a ticket." A fourth chimed in with: "Every little helps." Another viewer added a humorous touch, saying: "If it makes you feel any better, I got a car tax refund of £11.66. Got it in cheque form too, haha." Claiming a tax refund To find out if you've paid too much tax, you can perform a quick online check. Just head to the official website, follow the prompts and you could soon discover whether you're due a refund. The Government website states: "You may be able to get a tax refund (rebate) if you've paid too much tax." It says you may be entitled to a refund if you've paid too much on: Pay from a job Job expenses such as working from home, fuel, work clothing or tools A pension A Self Assessment tax return A redundancy payment UK income if you live abroad Interest from savings or payment protection insurance (PPI) Income from a life or pension annuity Foreign income UK income earned before leaving the UK Further, the site advises: "If you've paid too much or too little tax by the end of the tax year (April 5), HMRC will send you either: A tax calculation letter (also known as a P800) A Simple Assessment letter "This will tell you how to get a refund or pay tax you owe."
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Business Standard
08-07-2025
- Business
- Business Standard
Margins may shrink for wealth management cos: Anand Rathi's Feroze Azeez
Maintaining an asset allocation of 80 per cent equity and 20 per cent debt is recommended for long-term wealth creation, Azeez said premium Devanshu Singla New Delhi Listen to This Article Even if the markets go through a correction, the overall trend of using systematic investment plans (SIPs) is likely to continue, said Feroze Azeez, joint chief executive officer at Anand Rathi Wealth in an email interview with Devanshu Singla. Edited excerpts: What are the potential risks for the markets, and have they already priced them in? Risks may already be partially priced in. Investors have known about the (tariff) deadline for months, and many expect a limited or interim trade deal to avoid major disruptions. The recent strength in Indian equities reflects confidence in strong domestic growth and macro stability, which
Time of India
03-07-2025
- Business
- Time of India
A lot of money raised by promoters' stake sale finding way back into secondary market: Feroze Azeez
Live Events You Might Also Like: Early Nykaa investor to offload $150-million stake via block deal You Might Also Like: Investors must moderate return expectations, stick to asset allocation: Nilesh Shah (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel , Joint CEO,, suggests promoter stake sales, once frowned upon, are now viewed positively due to India's high promoter holdings and low free floats compared to global markets. He notes substantial domestic institutional investment requires quality paper, making promoter dilution necessary for sustainable valuations. Azeez anticipates more block deals , driven by price-sensitive domestic institutions, contrasting with FIIs' price-inelastic behaviour.: Fundraising happening at promoter level is finding its way back into equity markets in the secondary market . I think the answer lies in what proportions are going back into the capital markets. About 30% to 40% in my estimate – guesstimate – I would like to call it, goes back into capital are a lot of secondary deals that are happening. Even in the unlisted space, one of our clients raised almost Rs 1,000 crore from one of the FMCG giants and put back almost Rs 600-700 crore into the capital market. If I look at how our HNIs who are running listed companies or unlisted companies over a billion dollars are doing, I would say, at least 40-50% of that goes back and finds its way into the capital markets.I completely concur with you. That argument is for old days. Earlier, it was very strongly frowned upon when the promoter was decreasing the stake. I personally think this time around, the promoter is decreasing the stake because we are one of the highest promoter holdings. Free floats in banking and financial services or Bank Nifty, is about 86%. At the least, free float is 46% for IT if I am not wrong and FMCG also has a free float of about 45-47%. These are the two sectors with least free float. Pharma also has very little free globally compared, India's free floats across sectors is one of the least except for banking. It is gradually being seen as positive. I think that is the natural direction. Rs 14.5 lakh crore has come into equity markets from FY21 from domestic institutions – that is Rs 14.5 lakh crore in 50 months after FY21. That has to get good quality paper and if promoters do not dilute, we will be increasing valuations unreasonably and that is not sustainable.I think yes. FIIs have this tendency of buying on screen and selling on screen. So, every rupee which comes in from FIIs or every rupee which goes out from FIIs, transmits into larger price movements, that is because they believe in buying on a screen even if the stock moves 10% or 15% up. On the other hand, a domestic institution has a very specific price. They give a narrative of a very long-term story. Institutional brokers will not even buy it at Rs 832 even if they have to buy 10 lakh shares. The point I am trying to make is in the long term, will block deals increase? The answer is yes because domestic institutions are the ones that are pumping in the money and they are very price sensitive. FIIs are price inelastic. Another day, I will show you data to prove this hypothesis.: Yes, absolutely, and I think rightly so. I might have mentioned this but what disturbs me the most about Indian equity is the lower free float. The NSE 500 free float company is about Rs 3,000 crore or Rs 4,000 crore, not even half a billion dollar free float and that is the top 500 company. And I do not ever feel sad. I feel sad about being the 350th free float in the NSE 500 just having a billion dollar free float or a little lower than a billion dollar free float. Anand Rathi Wealth is somewhere around 350th free float in NSE the point I am trying to make is yes, going forward block deals will increase and I see it very positively. In one of the events, I asked the Sebi ex-chairwoman if there is so much money coming in and we have 140 crore people, where will the paper come from? She was reasonably positive that promoters will also sell and give good paper in the marketplace.I personally very strongly believe that this will continue. In fact, if I have to flip it in one way, one thing which I have been talking about is that the cash market has become a derivative. Derivative markets dictate where the cash markets are going. And this is one hypothesis which I have been trying to expiry days, Nifty moves as per the derivative market. The derivative is called a derivative because it derives its value from the cash market. Let's break derivative indicators short-term market movements into four components. One of them is, of course, derivative indicators. The second is liquidity. Third is the fundamentals of the companies. And fourth is macroeconomic variables. In the chronological order of their importance for the time frame in view, for the short-term view like a week, 10 days, 15 days, derivative indicators are the sharpest predictive let me tell you what that is implying. We have 36% long and short. Long is 36% in index futures for FIIs. Second, the synthetic futures which I keep highlighting, are one of the best barometers for this month, and are now quoting at a premium of Rs 95 which is close to the implied week, it was significantly greater than an implied cost of 5.5% forward which means that there is some degree of pullback in the subsequent expiry possible that is indicating a neutral stance. So, derivative markets are giving a little push upwards from an indicator standpoint and liquidity is reasonably good as well.I personally think it is certainly a red flag. It also depends on how they have behaved in the past because when you speak of a specific company, it is very easy to analyse what has been the behaviour. Now, if that is the kind of tendency at every peaks or valuations of their business, then I would be very circumspect of that specific block deal or an OFS because every time valuation goes up, if you are trying to dilute, then you are not here to make money for the retail example, a couple of IPOs left a lot of money on the table relative to the unlisted space. Those are very good indicators. I think the devil is in the details when it comes to this specific hypothesis. Are people selling out as promoters just capitalising on moving money from retail's pocket to their own or do they genuinely want liquidity for more credible purposes.
Economic Times
03-07-2025
- Business
- Economic Times
A lot of money raised by promoters' stake sale finding way back into secondary market: Feroze Azeez
Feroze Azeez, Joint CEO, Anand Rathi Wealth, suggests promoter stake sales, once frowned upon, are now viewed positively due to India's high promoter holdings and low free floats compared to global markets. He notes substantial domestic institutional investment requires quality paper, making promoter dilution necessary for sustainable valuations. Azeez anticipates more block deals, driven by price-sensitive domestic institutions, contrasting with FIIs' price-inelastic behaviour. Lots of block deals are happening in the market. What is your sense of the block deal money where promoters are raising capital? Is it coming back to equities? Is it going back into private capital? What is happening with so much fundraising that is happening? Feroze Azeez: Fundraising happening at promoter level is finding its way back into equity markets in the secondary market. I think the answer lies in what proportions are going back into the capital markets. About 30% to 40% in my estimate – guesstimate – I would like to call it, goes back into capital markets. There are a lot of secondary deals that are happening. Even in the unlisted space, one of our clients raised almost Rs 1,000 crore from one of the FMCG giants and put back almost Rs 600-700 crore into the capital market. If I look at how our HNIs who are running listed companies or unlisted companies over a billion dollars are doing, I would say, at least 40-50% of that goes back and finds its way into the capital markets. The fact that promoters are selling means that stocks will top out, and money will be knocked out of the equity market. Is that changing this time? Promoters are selling some parts of their own businesses, but are investing in other businesses. Should we not buy the argument that lots of block deals and liquidity will be sucked out? Feroze Azeez: I completely concur with you. That argument is for old days. Earlier, it was very strongly frowned upon when the promoter was decreasing the stake. I personally think this time around, the promoter is decreasing the stake because we are one of the highest promoter holdings. Free floats in banking and financial services or Bank Nifty, is about 86%. At the least, free float is 46% for IT if I am not wrong and FMCG also has a free float of about 45-47%. These are the two sectors with least free float. Pharma also has very little free float. So, globally compared, India's free floats across sectors is one of the least except for banking. It is gradually being seen as positive. I think that is the natural direction. Rs 14.5 lakh crore has come into equity markets from FY21 from domestic institutions – that is Rs 14.5 lakh crore in 50 months after FY21. That has to get good quality paper and if promoters do not dilute, we will be increasing valuations unreasonably and that is not sustainable. How do you see the trend shaping up going ahead because the first half and especially in the last month, we have so many big deals happening. Can we expect to see more of these in the second half as well? Feroze Azeez: I think yes. FIIs have this tendency of buying on screen and selling on screen. So, every rupee which comes in from FIIs or every rupee which goes out from FIIs, transmits into larger price movements, that is because they believe in buying on a screen even if the stock moves 10% or 15% up. On the other hand, a domestic institution has a very specific price. They give a narrative of a very long-term story. Institutional brokers will not even buy it at Rs 832 even if they have to buy 10 lakh shares. The point I am trying to make is in the long term, will block deals increase? The answer is yes because domestic institutions are the ones that are pumping in the money and they are very price sensitive. FIIs are price inelastic. Another day, I will show you data to prove this hypothesis. We understand that of these promoter blocks, more than 20% has been absorbed by mutual funds. Is that correct? Feroze Azeez: Yes, absolutely, and I think rightly so. I might have mentioned this but what disturbs me the most about Indian equity is the lower free float. The NSE 500 free float company is about Rs 3,000 crore or Rs 4,000 crore, not even half a billion dollar free float and that is the top 500 company. And I do not ever feel sad. I feel sad about being the 350th free float in the NSE 500 just having a billion dollar free float or a little lower than a billion dollar free float. Anand Rathi Wealth is somewhere around 350th free float in NSE 500. So, the point I am trying to make is yes, going forward block deals will increase and I see it very positively. In one of the events, I asked the Sebi ex-chairwoman if there is so much money coming in and we have 140 crore people, where will the paper come from? She was reasonably positive that promoters will also sell and give good paper in the marketplace. What is the overall view right now on the market? Does it seem like we will continue to hold out? We are just 2% shy from that all-time peak, but forget the index at a larger participation level. Do you think this kind of money inflow will continue? Feroze Azeez: I personally very strongly believe that this will continue. In fact, if I have to flip it in one way, one thing which I have been talking about is that the cash market has become a derivative. Derivative markets dictate where the cash markets are going. And this is one hypothesis which I have been trying to check. On expiry days, Nifty moves as per the derivative market. The derivative is called a derivative because it derives its value from the cash market. Let's break derivative indicators short-term market movements into four components. One of them is, of course, derivative indicators. The second is liquidity. Third is the fundamentals of the companies. And fourth is macroeconomic variables. In the chronological order of their importance for the time frame in view, for the short-term view like a week, 10 days, 15 days, derivative indicators are the sharpest predictive capability. Now, let me tell you what that is implying. We have 36% long and short. Long is 36% in index futures for FIIs. Second, the synthetic futures which I keep highlighting, are one of the best barometers for this month, and are now quoting at a premium of Rs 95 which is close to the implied cost. Last week, it was significantly greater than an implied cost of 5.5% forward which means that there is some degree of pullback in the subsequent expiry possible that is indicating a neutral stance. So, derivative markets are giving a little push upwards from an indicator standpoint and liquidity is reasonably good as well. Of late, select block deals and especially where the promoters are selling their stake in some companies was seen to be happening where the stock valuation is stretched. That makes the investors nervous as well. How should one read into that? Is it really a red flag for the investors? Feroze Azeez: I personally think it is certainly a red flag. It also depends on how they have behaved in the past because when you speak of a specific company, it is very easy to analyse what has been the behaviour. Now, if that is the kind of tendency at every peaks or valuations of their business, then I would be very circumspect of that specific block deal or an OFS because every time valuation goes up, if you are trying to dilute, then you are not here to make money for the retail guys. For example, a couple of IPOs left a lot of money on the table relative to the unlisted space. Those are very good indicators. I think the devil is in the details when it comes to this specific hypothesis. Are people selling out as promoters just capitalising on moving money from retail's pocket to their own or do they genuinely want liquidity for more credible purposes.
IOL News
23-05-2025
- Business
- IOL News
'Family motivated me to explore engineering'
Muhammad Azeez Image: Supplied THROUGHOUT his schooling years, Muhammad Azeez was always confused about what career to study. With a summa cum laude engineering degree now under his belt, it would be safe to say that Azeez opted for the right choice when he chose to study civil engineering at UKZN. "Choosing just one field seemed daunting to me," said Azeez, 22. "Ultimately, my family were the ones who motivated me to explore engineering. Out of all the different engineering branches, I think I chose civil engineering because of its direct impact on the running of cities, from roads to buildings to water infrastructure. I knew studying civil engineering would allow me to influence the state of essential infrastructure in our country." Growing up in Morningside in Durban, UKZN was a natural choice of institution. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad Loading "I think what solidified my decision, however, was the virtual open day held by the College of Agriculture, Engineering and Science during Covid-19, as it showed me what studying engineering at UKZN would be like." Azeez said he covered a wide variety of subjects during the course of his degree. He enjoyed the structures modules, while his favorite module was fluids 3. "It introduced me to the behaviour of water flowing in open channels like rivers, and hydrology, which helps us understand and analyse rainfall and floods." In his fourth and final undergraduate year of study, Azeez had to tackle a full design project and a research project. For his design project, he was tasked with designing a water reservoir for the Westown development near Shongweni. This included compiling a design report, professional engineering drawings and design calculations. "While it was definitely stressful, it was also exciting and fulfilling to be able to apply the skills I learned over the past four years." For his research project Azeez investigated the use of silver nanoparticles in cement mortar linings of water supply pipes. "This was a very interesting experience for me as it included quite a bit of chemistry and microbiology and applying these concepts to the civil engineering field. I was fortunate to have amazing supervisors for both my design project and dissertation, who helped me through my projects while giving me the space to explore and discover my own solutions to problems." Azeez is currently working in Pretoria as a graduate civil engineer for the engineering consultancy, Zutari, as part of their Water Unit (dams and hydropower team). His future plans include registering as a professional engineer once he obtains the necessary experience, and pursuing a Master's degree as he enjoys doing research. He thanked his lecturers who, he said, pushed him to his limits. "They always knew how to get me to achieve my full potential." Azeez also thanked his friends and extended family. "I was fortunate to have a close-knit circle of people I could rely on both on and away from campus, which definitely alleviated some of the stress." In his spare time, Azeez enjoys reading as a method to disconnect from work and to relax, as well as building Lego. "Yes they're for adults as well." THE POST
