New Rules From July 1: Aadhaar-PAN Linking, ITR Deadline, Banking Charges, Credit Card Fees & More

Starting July 1, 2025, several important financial rules will change in India. These updates will affect taxpayers, bank customers, train travelers, and credit card users. Key changes include mandatory Aadhaar for PAN card applications and tatkal train ticket bookings, an extended deadline for filing income tax returns, and new service charges from major banks like SBI, HDFC, and ICICI.

Here are the key changes to note:

1. Aadhaar Mandatory for PAN Card Applications

Starting July 1, 2025, it will be compulsory to provide your Aadhaar number when applying for a new PAN card. Previously, applicants could use other identity and address proof documents like voter ID or a birth certificate. As per new guidelines issued by the Central Board of Direct Taxes (CBDT), Aadhaar-based verification is now a must to streamline the process and reduce identity-related fraud.

2. New Tatkal Train Ticket Booking Rules

If you plan to book tatkal tickets online through IRCTC, Aadhaar verification will be required from July 1. This rule applies to bookings made via the IRCTC website or mobile app. From July 15, one-time password (OTP) verification will also be mandatory at Passenger Reservation System (PRS) counters, means you will need to authenticate your booking with a code sent to your mobile device. This change aims to prevent misuse and ensure greater security in bookings.

3. ITR Filing Deadline Extended

Deadline for taxpayers has been increased from 31st July to 15th September. Due to this, taxpayers will get more time to file their Income Tax Returns (ITR) this year. This extension offers relief for individuals and businesses who may need extra time to gather financial documents and file accurately without penalties.

4. Revised Banking and Credit Card Charges

SBI Cards: Free air accident insurance on premium cards like ELITE and PRIME will be removed from July 15. GST, EMIs, and extra charges will now count towards the minimum amount due.

HDFC Bank: A 1% fee applies to rent payments, wallet reloads above ₹10,000, utility bills over ₹50,000, and gaming spends above ₹10,000. Rewards of up to 10,000 points/month will be available for insurance payments.

ICICI Bank: Free ATM transactions are limited; charges start at ₹23 per transaction after limits are crossed. IMPS transfers will have charges from ₹2.50 to ₹15. Cash deposits over ₹1 lakh will also attract charges of ₹150 or ₹3.5 per ₹1,000 (whichever is higher) after free limit. Deposits and withdrawals by third parties will be limited to ₹25,000 per transaction.

5. Train Fare Increase

Starting July 1, Indian Railways will increase ticket prices. Non-AC mail and express trains will cost 1 paisa more per kilometer, while AC class fares will rise by 2 paisa per kilometer. There will be no change in second-class fares for journeys up to 500 km, but longer trips will see a small increase of half a paisa per kilometer.

6. New GST Return Rules

Starting July 2025, the Goods and Services Tax Network (GSTN) is bringing in stricter rules for filing GST returns. The GSTR-3B form (monthly GST return form) will no longer be editable once submitted, and taxpayers won't be allowed to file returns if more than three years have passed since the due date. These changes are meant to improve compliance and prevent delays in tax filings.