From PAN to Tatkal Tickets: 7 Shocking Money Rules Changing from July 1

As the new financial quarter begins, several important rule changes are set to come into effect from July 1, 2025, that may impact your personal finances, tax filing, online transactions, and train bookings. These updates include revisions in income tax deadlines, PAN-Aadhaar requirements, credit card charges, GST filing, and rail fares. Staying informed about these changes will help individuals and businesses plan better and avoid last-minute hassles.

Mandatory Aadhaar for New PAN Cards

From July 1, anyone applying for a new PAN card must undergo Aadhaar verification. This step is aimed at ensuring faster processing and preventing the creation of duplicate or fake PAN cards. The rule adds another layer of identification to the process, tightening checks at the application stage.

No Edits to GSTR-3B Post Submission

GST filing norms are also set to change. Once the GSTR-3B form is submitted, no edits or modifications will be allowed. Businesses must now use a new form, GSTR-1A, for any corrections or updates. The change is likely to bring more clarity and structure to the filing process but may create challenges, particularly for small and medium-sized enterprises that rely on post-submission corrections to manage errors.

HDFC Bank Revises Credit Card Charges

HDFC Bank will implement a new fee structure on its credit card usage starting July. As per the updated rules, a 1% fee will be charged on wallet loads exceeding ₹10,000, utility bill payments over ₹50,000, and online gaming transactions above ₹10,000 within a billing cycle. These changes may affect high-value users and those frequently using cards for digital transactions.

Tatkal Ticket Booking Linked to Aadhaar

Booking Tatkal tickets through the IRCTC platform will now require Aadhaar authentication. Starting July 1, Aadhaar must be linked for Tatkal bookings. Additionally, from July 15, Aadhaar-based OTP verification will also become compulsory for these bookings. The move is aimed at reducing misuse of the Tatkal quota and ensuring more transparent identity verification for passengers.

Train Fares Set to Rise Slightly

From July 1, there will be a minor increase in train fares. Non-AC class fares in Mail and Express trains will see a rise of one paisa per kilometre, while AC class fares will go up by two paise per kilometre. The increase is being implemented to manage rising costs and improve service infrastructure.

New Rules for SME IPO Bidding on NSE

In a move to boost small and medium enterprise investments, the National Stock Exchange is changing its bidding rules to make the process easier and more transparent for retail investors. This change is expected to improve participation in SME IPOs and build more confidence among small investors looking to enter the market.

ITR Filing Deadline Extended

The Central Board of Direct Taxes has extended the deadline for filing Income Tax Returns for the financial year 2024–25. Taxpayers now have time until September 15, 2025, to file their returns. The extension comes in light of recent updates in the ITR forms, providing individuals and professionals additional time to understand the changes and file their taxes accurately.