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Home Personal Finance New financial rules will be implemented from July 1, this document will...

New financial rules will be implemented from July 1, this document will be mandatory for making PAN! Know more

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8th Pay Commission: There will be a big increase in salary and pension in the 8th Pay Commission! Government gave information
8th Pay Commission: There will be a big increase in salary and pension in the 8th Pay Commission! Government gave information

CBDT has extended the last date for filing ITR to September 15, 2025. This will give taxpayers more time to file their returns without any hurry, which is a relief for them

New Financial Rules: Many new financial rules are going to be implemented from July 1, 2025, which will affect your pocket. Knowing about these new changes in advance will help you avoid any loss and be prepared in advance. From mandatory Aadhaar to new credit card rules, many important changes will be implemented from July 1. Let us tell you about it.

Aadhaar verification required for new PAN card

The Central Board of Direct Taxes (CBDT) has announced that Aadhaar verification will be mandatory for new PAN card application from July 1. Its purpose is to increase tax compliance and promote digitization. Let us tell you that earlier a valid ID and birth certificate was required to get a PAN card, but from July 1, PAN cannot be made without Aadhaar card.

ITR filing deadline extended

The CBDT has extended the last date for filing ITR to September 15, 2025, which was earlier scheduled to end on July 31, 2025. This will give taxpayers more time to file their returns without any haste, thereby reducing the chances of errors and incorrect filing.

Credit card and banking charge revisions by SBI, HDFC and ICICI Bank

From July 15, 2025, SBI Cards will revise its minimum amount payable calculation for credit card bills to include the full GST, EMI amount, charges, finance charges and over-limit amount, plus 2% of the remaining unpaid balance. Payments will be made in a certain order, with priority given to GST, EMIs, fees, finance charges, balance transfers, retail transactions and cash withdrawals. Additionally, SBI Card will discontinue complimentary air accident insurance, eliminating the Rs 1 crore cover for Elite, Pulse and Miles Elite cards and Rs 50 lakh cover for Prime and Miles Prime cards, affecting both existing and new cardholders.

From July 1, 2025, HDFC Bank will charge a 1% fee on online gaming and wallet load transactions exceeding Rs 10,000 per month, capped at Rs 4,999. No reward points will be earned on these. Utility bill payments above Rs 50,000 (consumer cards) or Rs 75,000 (business cards) will attract a 1% fee, capped at Rs 4,999, while rent, fuel (above Rs 15,000 or Rs 30,000 depending on the card variant) and education payments through third-party platforms will continue to attract a 1% fee, capped at Rs 4,999 per transaction. Reward points on insurance will be limited to 10,000 for Infinia/Infinia Metal, 5,000 for Diners Black/Biz Black Metal and 2,000 for most other cards, with no limit for Marriott Bonvoy cards; however GST will be applicable on all charges.

Axis Bank hikes ATM usage charges

Following many other banks, Axis Bank has announced to increase ATM transaction charges above the free limit from Rs 21 per transaction to Rs 23 per transaction from July 1, 2025. This change will affect both Axis and non-Axis ATM users. Let us tell you that many other lenders had already increased ATM charges from May 1 to cover increased operational costs and provide better service.


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