As the new financial quarter begins, several crucial changes have come into effect from July 1 and July 15, 2025, impacting everyday transactions, travel bookings, tax filings, and banking operations. These updates aim to boost digital security, streamline government processes, and make financial systems more transparent.
1. Aadhaar Mandatory for PAN Card Applications
From July 1, the Income Tax Department has made it mandatory to use Aadhaar authentication for all new PAN card applications. No alternative documents like birth certificates or voter IDs will be accepted. This rule strengthens identity verification and helps prevent fraudulent PAN registrations.
2. ITR Filing Deadline Extended
Taxpayers now have additional time to file their Income Tax Returns for Assessment Year 2025–26. The deadline has been extended from July 31 to September 15, 2025. This comes as a relief for salaried individuals and professionals still compiling their documentation.
3. IRCTC Tatkal Ticket Booking: Aadhaar & OTP Now Mandatory
- Aadhaar Link Compulsory: Only users with Aadhaar-linked IRCTC accounts can book Tatkal tickets.
- OTP Verification: Starting July 15, OTP-based Aadhaar authentication will be required for both online and counter bookings.
- Agent Booking Restrictions: From 10:00–10:30 AM (AC) and 11:00–11:30 AM (Non-AC), only individual users can book; agents are blocked during this time.
- Fare Revision: Tatkal fares increased by ₹0.01/km (non-AC) and ₹0.02/km (AC).
- Reservation Chart Timing: Now generated 8 hours before train departure instead of 4.
4. UPI Chargebacks Made Easier
The NPCI has allowed banks to process UPI chargebacks without prior approval. This means failed or disputed UPI transactions can now be refunded more quickly and directly by the banks, improving customer experience.
5. Increased ATM & Credit Card Charges
- ATM Transactions: ICICI and Axis Bank revised charges. ICICI now charges ₹125 per international ATM withdrawal.
- Branch Services: ICICI will charge ₹150 after three free branch transactions monthly.
- Credit Card Surcharge: HDFC now levies 1% on rent payments, utility bills, online wallets, capped at ₹4,999.
- SBI Cards: Complimentary air insurance removed; EMI and GST now included in the minimum due.
6. GSTR-3B Returns No Longer Editable
In a move to enhance tax compliance, GST returns (GSTR-3B) submitted online will now become non-editable. Taxpayers must ensure accuracy before submission. Also, delayed returns can’t be filed after 3 years from their due date.
7. Small Savings Interest Rates Under Review
The government is expected to revise interest rates for popular small savings schemes like PPF, NSC, Sukanya Samriddhi, and SCSS for the July–September 2025 quarter. Official updates are awaited.
Summary Table: Major Changes from July 2025
CategoryWhat’s Changed PAN CardAadhaar mandatory for new applications Income TaxITR deadline extended to Sept 15 Tatkal BookingAadhaar, OTP verification, agent timing rules UPIChargebacks can be processed without NPCI approval Bank ChargesNew ATM, branch, and credit card fees GST ReturnsGSTR-3B not editable post-submission Small SavingsInterest rate updates expected
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