July Rules Change
Starting July 1, several new rules will take effect that could impact your daily life—from filing income tax returns and applying for a PAN card to booking train tickets and using your credit card. Here's what you need to know.
New Financial Rules from July 1: Check What’s Changing for Your Aadhaar, PAN & Credit Cards
From July 1, new rules in India will impact daily transactions—mandatory Aadhaar for PAN, Aadhaar check for Tatkal tickets, extended ITR deadlines and revised credit card terms for better compliance and security.
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PAN Aadhaar Mandatory
Aadhaar verification is now compulsory for all new Permanent Account Number (PAN) card applications, as per the Central Board of Direct Taxes (CBDT). This rule applies from July 1. Existing PAN holders must link Aadhaar by December 31 to avoid deactivation.
Tatkal Aadhaar Rule
Tatkal bookings now need Aadhaar verification. From July 15, two-factor authentication via OTP will be mandatory for all bookings—online and offline. Indian Railways may also raise fares slightly: 1 paisa/km for non-AC, 2 paise/km for AC coaches.
ITR Deadline Extended
The Income Tax Department has extended the deadline for filing Income Tax Returns (ITRs) from July 31 to September 15, giving salaried individuals 46 extra days. Experts advise early filing to avoid last-minute technical issues.
Credit Card Changes
Starting July 1, major banks like State Bank of India (SBI), HDFC Bank and ICICI Bank will revise credit card terms, charges and services. Users are advised to review updated policies to avoid unexpected fees or service disruptions.
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SBI Card Update
State Bank of India (SBI) will discontinue air accident insurance on select cards like SBI Elite and SBI Miles. A new method to calculate the Minimum Amount Due (MAD) on monthly credit card bills will also be introduced.
HDFC Card Charges
HDFC Bank will impose a 1% transaction fee (capped at ₹4,999) on rent payments, online gaming spends over ₹10,000, utility bills exceeding ₹50,000/month (excluding insurance) and digital wallet loads above ₹10,000 in a single transaction.
ICICI ATM Charges
ICICI Bank has revised its ATM transaction charges effective July 2025. Customers get 5 free withdrawals at ICICI ATMs. Beyond this, ₹23 is charged per withdrawal. At non-ICICI ATMs, limits are 3 (metro) and 5 (non-metro). After the limit, ₹23 is charged for withdrawals and ₹8.50 for balance checks or other non-cash transactions.
Banking Fee Revisions
International ATM withdrawals now cost ₹125 (cash) and ₹25 (non-financial), with 3.5% foreign currency mark-up. Immediate Payment Service (IMPS) charges range between ₹2.5–₹15. After 3 free Cash Recycler Machine (CRM) deposits, ₹150 applies. High monthly deposits also attract additional charges.
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