New Rules From July 1: PAN-Aadhaar, Credit Card, ITR & Railway Changes Explained
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Starting 1 July 2025, several new rules will come into effect that could directly impact your daily financial activities — from filing ITRs and applying for a PAN card to booking train tickets and managing credit card charges.
Here’s a complete look at what’s changing for Indian taxpayers, bank customers, and railway passengers:
Aadhaar Mandatory for New PAN Applications
The Central Board of Direct Taxes (CBDT) has announced that Aadhaar verification will be mandatory for all new PAN card applications starting 1 July. Previously, applicants could use other IDs like a driving licence or birth certificate.
Aadhaar Required for Tatkal Train Bookings
Booking a Tatkal train ticket will now require Aadhaar-based verification. Additionally, starting 15 July, two-factor authentication will be introduced for all ticket bookings — both online and over the counter — using OTP verification.
Fare update: A small fare hike is expected —
ITR Filing Deadline Extended
There’s good news for taxpayers. The deadline for filing Income Tax Returns (ITRs) has been extended from 31 July to 15 September 2025.
Major Credit Card Fee Changes
Top banks including SBI, HDFC, and ICICI will roll out updates to their credit card terms, charges, and transaction fees.
SBI Credit Cards
HDFC Credit Cards
1% fee (up to ₹4,999) on:
ICICI Credit Cards
ATM usage limits and charges updated:
Why These Changes Matter
These updates are aimed at tightening compliance, enhancing digital security, and improving service transparency. However, they may also lead to added costs and inconvenience if users are unprepared. It’s important to review and update your information, especially Aadhaar links, and stay informed on your bank’s latest terms.
Here’s a complete look at what’s changing for Indian taxpayers, bank customers, and railway passengers:
Aadhaar Mandatory for New PAN Applications
The Central Board of Direct Taxes (CBDT) has announced that Aadhaar verification will be mandatory for all new PAN card applications starting 1 July. Previously, applicants could use other IDs like a driving licence or birth certificate.
- Deadline for existing PAN holders: 31 December 2025
- Consequence: PAN will be deactivated if not linked with Aadhaar, affecting tax filings and banking transactions.
Aadhaar Required for Tatkal Train Bookings
Booking a Tatkal train ticket will now require Aadhaar-based verification. Additionally, starting 15 July, two-factor authentication will be introduced for all ticket bookings — both online and over the counter — using OTP verification.
Fare update: A small fare hike is expected —
- ₹0.01/km for non-AC
- ₹0.02/km for AC coaches
ITR Filing Deadline Extended
There’s good news for taxpayers. The deadline for filing Income Tax Returns (ITRs) has been extended from 31 July to 15 September 2025.
- Offers an extra 46 days for salaried individuals
- Experts recommend filing early to avoid technical glitches
Major Credit Card Fee Changes
Top banks including SBI, HDFC, and ICICI will roll out updates to their credit card terms, charges, and transaction fees.
SBI Credit Cards
- Air accident insurance on SBI Elite & Miles cards will be discontinued
- New formula for calculating Minimum Amount Due (MAD)
HDFC Credit Cards
1% fee (up to ₹4,999) on:
- Rent payments
- Online gaming spends above ₹10,000
- Utility bills over ₹50,000/month (except insurance)
- Wallet top-ups over ₹10,000
ICICI Credit Cards
ATM usage limits and charges updated:
- After 5 ICICI ATM uses: ₹23 per withdrawal
- Non-ICICI ATM limit: 3 in metros, 5 in non-metros
- International cash withdrawals: ₹125; Non-financial: ₹25
- 3.5% markup on foreign currency
- IMPS transfers: ₹2.5–₹15 depending on amount
- Cash deposits: 3 free at CRMs; ₹150 thereafter
- Monthly cash deposits over ₹1 lakh: ₹150 or ₹3.5/₹1,000
Why These Changes Matter
These updates are aimed at tightening compliance, enhancing digital security, and improving service transparency. However, they may also lead to added costs and inconvenience if users are unprepared. It’s important to review and update your information, especially Aadhaar links, and stay informed on your bank’s latest terms.
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