Major changes from July 1: PAN applications, credit card charges, tatkal bookings, and ITR

As we enter the second half of 2025, Indians are set to experience significant changes across various sectors, including income tax filing and banking.

Several of these new financial changes would be implemented from July 1 2025—from tatkal train ticket bookings to changes in charges for credit card transactions. Here is a list of the major ones:

Aadhaar verification for PAN

From July 1 onwards, Aadhaar verification will be made mandatory for all new PAN card applications. The Central Board of Direct Taxes also mandated that existing users should link their Aadhaar to their PAN by December 31 2025.

Aadhaar verification for tatkal train bookings

Aadhaar card verification will be made mandatory for tatkal train ticket bookings by July 1. From July 15 onwards, two-factor authentication will be implemented. 

Authorised agents will not be allowed to book tatkal tickets during the first 30 minutes of the booking window.

MORE | Did you link your Aadhaar to IRCTC? Here are the new tatkal booking rules from July 1

The Indian railways will also be enhancing the ticket booking and reservation process and will prepare charts eight hours before the train's departure, which will reduce passenger wait times for updates on wait list tickets. 

Extension for filing income tax returns

The Central Board of Direct Taxes extended the deadline for filing IT returns from July 31 to September 15. Individuals whose documentation is ready can file on the old date.

Additionally, Goods and Services Tax Network will lock its GSTR-3B forms after they are filed. Returns will be auto-populated on the GSTR-1/1A form.

MORE | Goods and Services Tax: Here are the two major changes to monthly GST returns from July 2025

Changes to bank transactions and charges

Online transfers via Immediate Payment Service (IMPS) will now be charged ₹15 instead of ₹2.50 based on the amount transferred. Three free transactions will be available per month at cash recycler machines, after which they will have to pay ₹150 per transaction. 

SBI: The State Bank of India (SBI) will discontinue their air accident insurance, which was offered for users of the SBI Elite, Miles Elite, Miles Prime and other premium cards to purchase air tickets.

HDFC Bank: For HDFC Bank transactions, a 1 per cent transaction fee (to be capped at ₹4,999) will be applied if the card is used to pay rent or if the user spends over ₹10,000 on online skill-based games. Monthly utility payments that are over ₹50,000 will also see the same fee. 

If a user loads over ₹10,000 into a single wallet in one transaction, they will also be charged the same fee. Insurance transactions are exempt from this charge. 

ICICI Bank: After the first five free transactions at an ICICI ATM, the user will be charged ₹23. Non-financial transactions will continue to be free. 

For non-bank ATMs, the number of free transactions is three for metro cities and five for smaller ones. After that, the user will be charged ₹23 and ₹8.50 for each transaction, respectively.

For international ATMs, ₹125 will be charged for withdrawals, ₹25 for non-financial transactions, and a 3.5 per cent currency conversion fee.

Axis Bank: Axis Bank users using out-of-network ATM withdrawals will be charged ₹23 per transaction.

RBI extends call money market hours

The Reserve Bank of India (RBI) extended the interbank call money market window from 9am-5pm to 9am-7pm from July 1. An additional two hours have been added for banks to borrow and lend funds.

Fuel ban in Delhi for end-of-life vehicles

Delhi will enforce a fuel ban for end-of-life (EOL) vehicles from July 1, in a bid to improve air quality. 

Automated number plate recognition cameras have been installed at all of the 520 fuel stations in Delhi. Registration numbers of vehicles captured on camera will be checked against the VAHAN database.

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