PAN, Aadhaar, Credit Card Rules Change from July 1

Starting July 1, 2025, several financial rule changes have come into effect, impacting taxpayers, train passengers, and bank customers across India. The Central Board of Direct Taxes (CBDT) has made Aadhaar mandatory for all new PAN card applications. PAN holders who haven’t linked their Aadhaar have until December 31 to do so.

The Indian Railways now requires Aadhaar verification for booking Tatkal tickets, introducing two-factor authentication for both online and counter bookings. From July 15, an OTP will also be needed during the ticket booking process.

In a relief to salaried taxpayers, the Income Tax Department has extended the ITR filing deadline from July 31 to September 15. Tax experts advise early filing to avoid last-minute issues.

Meanwhile, top banks like SBI, HDFC, and ICICI have announced changes in their credit card terms, charges, and ATM services:

• SBI has discontinued air accident insurance on select cards and changed the way minimum dues are calculated.

• HDFC now charges a 1% fee (up to ₹4,999) on specific categories like high-value utility bills and gaming spends.

• ICICI has introduced new ATM and cash deposit charges, with ₹23 per withdrawal after free limits.

Digital wallet loading and IMPS transaction fees have also been revised.

These changes are part of the government’s move to enhance financial compliance and improve digital security across services. Consumers are advised to review their bank notifications and plan transactions accordingly.