Starting July 1, 2025, several important changes will take place in India that will affect many aspects of daily life. These changes involve tax filing, PAN card applications, railway ticket bookings, and bank charges. The government and major banks such as SBI, HDFC, and ICICI have announced these updates, and they will impact many individuals and customers across the country.
One of the most significant changes is the new requirement for Aadhaar verification when applying for a new PAN card. The Central Board of Direct Taxes (CBDT) has made it mandatory for all applicants to provide their Aadhaar number. Previously, people could use documents like a birth certificate or a driving license. Existing PAN cardholders must also link their PAN with their Aadhaar by December 31, 2025. If they fail to do so, their PAN may become inactive, causing issues with various financial transactions.
In addition to PAN card changes, new rules will also apply to railway ticket bookings. From July 15, 2025, passengers will need to verify their Aadhaar when booking Tatkal train tickets. The Indian Railways will introduce a two-factor authentication system for all bookings. This will require an OTP sent to the registered mobile number of the customer. Moreover, there will be a slight increase in train fares. Non-AC classes will see a rise of 1 paisa per km, while AC classes will increase by 2 paise per km.
Another important change is the extension of the deadline for filing Income Tax Returns (ITR). The new deadline will be September 15, 2025, instead of the original July 31 date. Taxpayers are still encouraged to file their returns early to avoid problems with the website as the deadline approaches.
Changes to credit card rules have also been announced by major banks. For example, SBI will no longer offer air accident insurance for its Elite and Miles cardholders. Additionally, new rules will affect how the minimum due amount on credit card bills is calculated.
HDFC Bank will introduce a 1% transaction fee on rent payments and online gaming expenses exceeding ₹10,000. The same fee will apply to utility bill payments over ₹50,000, excluding insurance. Moreover, wallet loads that exceed ₹10,000 using an HDFC card will incur this fee as well.
For ICICI Bank customers, there will be updates to ATM withdrawal policies. Customers will receive five free cash withdrawals at ICICI ATMs each month, after which they will be charged ₹23 per transaction. For non-ICICI ATMs, there will be three free transactions in metropolitan areas and five in smaller cities before charges apply. International ATM withdrawals will incur a fee of ₹125, along with a balance check fee of ₹25 and a currency conversion charge of 3.5%.
Charges for IMPS transfers will range from ₹2.50 to ₹15, depending on the amount transferred. Additional fees will apply for cash deposits above ₹1 lakh and third-party deposits exceeding ₹25,000.
These changes are set to impact many people and businesses across India. It is crucial for individuals to understand these new rules and prepare accordingly. Whether it is linking Aadhaar with PAN, adapting to new railway ticket booking requirements, or navigating updated bank policies, being informed will help ensure a smooth transition as these changes take effect.
As the date approaches, individuals are encouraged to check their PAN-Aadhaar linking status and prepare for the upcoming tax filing deadline. Keeping up to date with these new regulations will help avoid any penalties or complications in the future.
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