New Financial Rules: From 1 July 2025, many new financial rules are going to be implemented, which will affect your pocket. Knowing these new changes in advance will help you to avoid any loss and to be prepared in advance. From July 1, from Mendateri Aadhaar to new credit card rules, many significant changes will be implemented. 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 the new PAN card application from July 1. Its objective is to increase tax compliance and promote digitization. Let us tell you that earlier there was a valid ID and birth certificate to get PAN card made, but from July 1, PAN will not be made without Aadhaar card.
Deadline for ITR filing increased
CBDT has extended the last date for filing ITR to 15 September, 2025, which was scheduled to end on 31 July, 2025. This will give taxpayers more time to file their returns without any haste, which will reduce the chances of errors and wrong filing.
Amendment of credit card and banking charge by SBI, HDFC and ICICI Bank
From July 15, 2025, SBI Card will revise its minimum amount calculation for credit card bills, including the entire GST, EMI amount, charge, finance fee and over-limit amount, as well as 2% of the remaining remaining. Payment will be made in a certain order, in which GST, EMI, fee, finance fee, balance transfer, retail transaction and cash withdrawal will be given priority. Apart from this, SBI Card Complimentary Aerial Accident Insurance will be discontinued, which will eliminate a cover of Rs 1 crore for elite, pulse and miles elite card and a cover of Rs 50 lakh for Prime and Miles Prime Card, affecting both the existing and new card holders.
From July 1, 2025, HDFC Bank will impose a fee of Rs 4,999 if the HDFC Bank online gaming and wallet load transactions exceed Rs 10,000 per month. No reward points can be earned on these. Utility bill payment of more than Rs 50,000 (consumer card) or Rs 75,000 (trade card) will be charged Rs 4,999, while the range of Rs 15,000 or Rs 15,000 on the basis of the third party platforms, fare, fuel (more than Rs 30,000 on the basis of card variants) and 1% fee on education payment, which will have a limit of Rs 4,9999. Reward points on insurance will be limited to 10,000 for infinia/infinia metal, 5,000 for diners Black/Bij Black Metal and 2,000 for most other cards, there will be no limit for mariot bonwoy card; However, GST will be charged on all charges.
Axis Bank increased ATM use charge
After several other banks, Axis Bank has announced to increase the ATM transaction fee more than Rs 21 per transaction from Rs 21 per per transaction from July 1, 2025. This change will affect Axis and non-Axis ATM users. To let you know that many other lenders had already increased the ATM fee from 1 May to increase operational costs and provide better service.