Act Now! From July 1 Rule Changes: Aadhaar, ITR, Passport Fees, Credit Cards & More;  Here’s How Your Household Budget Will Be Affected

Several financial and regulatory changes will come into effect from July 1, 2026. From free Aadhaar updates and income tax deadlines to higher passport fees, revised credit card benefits and stricter banking rules, here is everything consumers need to know.

By Vidhi Lalla 

Pune: From July 1, several important financial changes will come into force across India, affecting taxpayers, bank customers, passport applicants, railway passengers and credit card users. While some changes are expected to reduce costs for consumers, others could increase household expenses or require better financial planning.

Families planning travel, filing income tax returns or using premium credit cards may particularly feel the impact of the new rules.

One of the biggest deadlines is for taxpayers filing ITR-1 and ITR-2 for the Financial Year 2025-26 (Assessment Year 2026-27). Returns must be filed by July 31, 2026. Missing the deadline could attract penalties, restrict the choice of tax regime and prevent taxpayers from carrying forward eligible losses.

For Aadhaar holders, there is good news. The Unique Identification Authority of India (UIDAI) has waived the ₹75 fee for updating the registered email address through the Aadhaar application. The service will remain free from July 1 to December 31, 2026, helping users update their records without additional cost.

Credit card users will also see significant changes.

HDFC Bank has revised lounge access rules for select cards. From July 1, eligible cardholders must spend at least ₹60,000 during the previous calendar quarter to receive complimentary domestic airport lounge access in the following quarter.

SBI Card has also changed the reward points programme for select PhonePe SBI Credit Card PURPLE and PhonePe SBI Credit Card SELECT BLACK variants. The revised policy introduces new spending limits and expands the list of transactions that will not earn reward points.

Passport applicants should prepare for higher expenses. The Ministry of External Affairs has revised passport fees for both normal and Tatkaal applications.

Under the new fee structure:

• A 36-page normal passport will cost ₹2,500, up from ₹1,500.
• A Tatkaal 36-page passport will cost ₹5,000.
• A 60-page passport will cost ₹3,500, compared with ₹2,000 earlier.
• A Tatkaal 60-page passport will cost ₹6,000.
• Charges for replacing lost or damaged passports have also been increased.

The Reserve Bank of India (RBI) has also introduced stricter norms to curb the mis-selling of financial products by banks. If customers are sold unsuitable financial products through misrepresentation, banks will now be required to provide full refunds and compensation for losses, strengthening consumer protection.

Apart from financial services, railway passengers should also note that higher penalties for certain railway offences are expected to come into effect under amended provisions linked to the Jan Vishwas Act. Penalties for travelling without a valid ticket and several other violations are set to become stricter.

Consumers should also watch for the monthly revision of LPG, CNG, PNG and aviation fuel prices, which oil marketing companies usually announce at the beginning of every month. Any increase could directly affect household cooking fuel expenses, transport costs and airfares.

How These Changes Could Affect Your Household Budget

• Taxpayers should file ITR before July 31 to avoid penalties and additional financial burden.
• Families applying for passports may need to budget significantly more due to the revised fees.
• Frequent travellers using HDFC credit cards must meet the new spending criteria to continue enjoying complimentary lounge access.
• SBI credit card users may earn fewer reward points on certain transactions, reducing overall card benefits.
• Aadhaar holders can save ₹75 by updating their registered email address during the free window.
• Potential LPG, CNG and PNG price revisions could influence monthly household and transportation expenses.
• Railway passengers should be more cautious, as higher penalties for rule violations could increase travel costs.

Overall, while the free Aadhaar update offers a small saving, higher passport charges, revised credit card benefits and possible fuel price revisions could increase expenses for many households. Planning finances in advance can help families manage these changes more effectively.

Disclaimer: Financial rules and prices are subject to notifications issued by the respective government departments and regulators. Consumers should verify details before making financial decisions.

FAQs

Q1. When do these financial changes come into effect?
Most of the announced changes will take effect from July 1, 2026.

Q2. What is the last date to file ITR-1 and ITR-2?
The due date is July 31, 2026 for eligible taxpayers filing returns for FY 2025-26.

Q3. Is Aadhaar updating free from July 1?
The ₹75 fee for updating the registered email address through the Aadhaar application has been waived until December 31, 2026.

Q4. How much has the passport fee increased?
A 36-page passport will now cost ₹2,500, while a 60-page passport will cost ₹3,500. Tatkaal passport fees have also increased.

Q5. What has changed for HDFC credit card users?
Eligible cardholders must spend at least ₹60,000 in the previous quarter to qualify for complimentary airport lounge access.

Q6. What changes have been made to SBI credit cards?
Reward point rules have been revised for select PhonePe SBI credit cards, with new spending conditions and more transactions excluded from earning reward points.

Q7. How will these changes affect household budgets?
Households may face higher expenses for passports, possible increases in fuel-related costs and reduced credit card benefits, while Aadhaar users can save on update charges and taxpayers can avoid penalties by filing returns on time.