Tax deadline to train ticket cost: Key financial changes from July

Aadhaar-PAN rules to revised bank fees: Here's what's new for your money, travel, and taxes starting this month

Indians will face a slew of financial and regulatory changes in July, changing everyday spending, banking habits, and tax compliance. There will be changes in booking train tickets to revised ATM and credit card charges. Here’s a round-up of what’s new this month.

 

Aadhaar is now mandatory for new PAN cards

 

From July 1, the Central Board of Direct Taxes (CBDT) has made Aadhaar mandatory for anyone applying for a new PAN card. While earlier other documents such as a driving licence or birth certificate were enough, Aadhaar is now compulsory. Existing PAN holders have until December 31, 2025, to link their Aadhaar to avoid deactivation.

 

 

Tax filing deadline extended

 

In welcome news for taxpayers, the deadline for filing income tax returns (ITR) has been extended from July 31 to September 15, 2025. This gives salaried individuals more time to organise documents such as Form 16 and avoid last-minute portal glitches.

 

HDFC, SBI, ICICI Revise Charges

 

HDFC Bank has introduced a 1 per cent fee on:

 

-Wallet top-ups over Rs 10,000

 

-Online gaming spends above Rs 10,000

 

-Utility payments exceeding Rs 50,000 (excluding insurance)

 

-Rent and fuel payments crossing Rs 15,000

 

-The maximum monthly charge is capped at Rs 4,999.

 

SBI Cards will discontinue its air accident insurance for certain premium cards from July 15 and revise how the minimum amount due is calculated, potentially increasing interest costs for cardholders paying only the minimum each month.

 

ICICI Bank has hiked charges on:

 

-ATM withdrawals beyond free limits (Rs 23 for cash, Rs 8.50 for balance checks)

 

-IMPS transfers (Rs 2.5 to Rs 15 depending on the amount)

 

-Cash deposits above Rs 1 lakh (Rs 150 or Rs 3.5 per Rs 1,000)

 

Tatkal train booking rules and new fare

 

Booking Tatkal tickets now requires Aadhaar verification on IRCTC platforms. From July 15, two-factor OTP authentication becomes mandatory for both online and counter Tatkal bookings. Agents will be barred from booking tickets during the first 30 minutes of the Tatkal window to curb misuse.

 

Additionally, Indian Railways is likely to raise fares slightly, by 1 paisa/km for non-AC and 2 paisa/km for AC travel.

 

Other notable changes

 

GST returns: GSTR-3B forms will now be auto-filled and non-editable, locking in the data filed from July onwards.

 

Axis Bank: Out-of-network ATM fees have been raised to Rs 23 per transaction.

 

Delhi fuel ban: End-of-life vehicles will be denied fuel at petrol pumps using camera-based checks linked to the VAHAN database.

 

RBI’s call money market hours: Trading hours for banks are extended from 9 a.m. to 7 p.m.