Synopsis: From tax filing extensions to new credit card charges, Aadhaar-PAN rules, and revised bank fees — major changes have kicked in from July 1, 2025. Here's a full breakdown of the updates affecting your money, travel, and digital transactions.
A host of new financial, tax, and utility rules came into effect starting today, impacting millions of Indian citizens. Whether you're filing ITR, using a credit card, booking a train ticket, or applying for a PAN card — these changes may affect your daily routine and expenses.
Here’s a comprehensive list of what’s new from July 1:
1. ITR Filing Deadline Extended
The Income Tax Return (ITR) deadline for salaried taxpayers (non-audit cases filing ITR-1/4) has been extended to September 15, 2025, while self-assessment tax must be paid by July 31, 2025, due to delays in utility rollout.
2. Credit Card Rules Revised for HDFC, SBI, and ICICI Users
- SBI has scrapped its air accident insurance on premium cards.
- HDFC has introduced a 1% transaction fee for rent payments, gaming spends, and high-value utility payments.
- ICICI has raised ATM and international usage charges, while Axis Bank will now charge ?23 for out-of-network ATM use.
3. Indian Railways Tatkal Booking Update
The Passenger Reservation System (PRS) is being upgraded to allow 1.5 lakh bookings per minute, and the final chart will be prepared 8 hours before departure, giving better visibility on waitlist status.
4. Aadhaar Made Mandatory for PAN Applications
- All new PAN card applicants must now provide an Aadhaar number.
- Existing users must link Aadhaar to PAN by December 31, 2025, or risk deactivation.
5. Extended Market Hours for Call Money Trading
RBI has extended interbank call money market trading hours by two hours, now from 9 AM to 7 PM to enhance liquidity.
6. GSTR-3B Returns Locked Post Submission
GST taxpayers can no longer edit GSTR-3B forms post-submission, with data now being auto-filled from GSTR-1/1A for greater compliance.
7. Online Transaction & ATM Charges Revised
- IMPS transaction charges now range from ?2.5 to ?15.
- After three free cash deposits per month at Cash Recycler Machines, a fee of ?150 per transaction applies.
Disclaimer: The above article is based on government circulars and public information available as of July 1, 2025. Users are advised to consult respective authorities or financial advisors for specific concerns or clarifications.
