From PAN linking to Tatkal tickets: Key changes effective July 1
01 Jul 2025

As we step into July 2025, a host of financial and travel-related rule changes are coming into effect for Indian citizens and residents.

These changes will impact everything from tax filing and PAN card applications to train ticket bookings and credit card usage.

Here are the major updates that will affect taxpayers, bank customers, and railway passengers across the country.

Aadhaar mandatory for new PAN applications
PAN changes

The Central Board of Direct Taxes (CBDT) has made Aadhaar verification mandatory for all new Permanent Account Number (PAN) card applications from July 1.

Earlier, applicants could provide other government-issued IDs like a driver's license or birth certificate.

Existing PAN holders who have not yet linked their PAN with Aadhaar have until December 31 to do so, failing which their PAN may be deactivated.

Changes in railway ticket booking
Railway regulations

Booking Tatkal train tickets will now require Aadhaar-based verification.

The Indian Railways has also introduced new security measures for all ticket bookings.

The Railways is also reportedly considering a minor fare hike, increasing it by 1 paisa/km for non-AC and 2 paise/km for AC coaches.

ITR filing deadline extended to September 15
Tax extension

The Income Tax Department has extended the deadline for filing Income Tax Returns (ITRs) from July 31 to September 15.

From today, this gives an additional 46 days for individuals to file their returns.

However, experts recommend early filing to avoid last-minute technical glitches that are common as the deadline approaches.

Major banks revising credit card terms and services
Banking changes

Major banks such as SBI, HDFC Bank, and ICICI Bank are revising their credit card terms, charges, and services from July 1.

SBI will discontinue air accident insurance benefits on cards like SBI Elite and Miles.

A new method to calculate the minimum amount due (MAD) for monthly bills will also be introduced.

HDFC Bank to charge fee on rent payments, other transactions
Fee changes

HDFC Bank will charge a 1% fee (capped at ₹4,999) on rent payments, online gaming spends above ₹10,000, utility bill payments over ₹50,000/month (excluding insurance), and loading digital wallets with more than ₹10,000 in one go.

ICICI Bank will continue to offer five free ATM withdrawals at its own ATMs. Beyond that, a charge of ₹23 will be levied.