Rule Changes in India, New Delhi, July 1, 2025: Starting today, Indian citizens and residents will face significant changes in financial and travel regulations, impacting PAN card applications, income tax filings, railway ticket bookings, and banking services. Here’s a breakdown of the key updates
Aadhaar Mandatory for New PAN Applications (Rule Changes)
The Central Board of Direct Taxes (CBDT) has mandated Aadhaar verification for all new Permanent Account Number (PAN) card applications from July 1. Previously, applicants could use alternative IDs like driver’s licenses or birth certificates. Existing PAN holders must link their PAN with Aadhaar by December 31, 2025, or risk deactivation.
Railway Ticket Booking Overhaul
Indian Railways has introduced Aadhaar-based verification for Tatkal ticket bookings to enhance security. Additional safety measures for all ticket bookings are also in place. Reports suggest a proposed minor fare hike of 1 paisa/km for non-AC coaches and 2 paise/km for AC coaches, though official confirmation is pending.
ITR Filing Deadline Extended
The Income Tax Department has extended the deadline for filing Income Tax Returns (ITRs) from July 31 to September 15, 2025, giving taxpayers an extra 46 days. Experts advise filing early to avoid technical glitches closer to the deadline.
Banking and Credit Card Changes
Major banks, including SBI, HDFC, and ICICI, are revising credit card terms from July 1. SBI will discontinue air accident insurance on cards like SBI Elite and Miles and introduce a new method to calculate the minimum amount due (MAD). HDFC Bank will impose a 1% fee (capped at ₹4,999) on rent payments, online gaming spends above ₹10,000, utility bills over ₹50,000/month (excluding insurance), and digital wallet loads exceeding ₹10,000. ICICI Bank will maintain five free ATM withdrawals at its ATMs, with a ₹23 fee for additional transactions. These changes aim to streamline processes and enhance compliance but may require adjustments from taxpayers, travelers, and bank customers. Stay updated via official sources like grok.com or x.com for real-time information.
