Major Financial Rule Changes From July 1, ITR Filing, Aadhaar, Credit Cards & Passport Costs To Be Impacted
· Free Press Journal
Mumbai: Several important financial changes are set to take effect from July 1, 2026. These new rules could affect millions of people across India.
Taxpayers, bank customers, credit card users, passport applicants and Aadhaar card holders may all feel the impact. Here are the key changes you should know.
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ITR Filing Deadline
Taxpayers filing Income Tax Return through ITR-1 and ITR-2 forms must submit returns for FY 2025–26 (AY 2026–27) by July 31, 2026.
Passport Fees Revised From July 1; Fresh 36-Page Passport To Cost ₹2,500, Tatkal Fee Raised To ₹5,000Missing the deadline may lead to penalties. It can also restrict tax regime choices and limit the ability to carry forward eligible losses.
Free Aadhaar Email Update
From July 1, UIDAI has made Aadhaar email address updates free for six months.
Usually, updating the registered email costs ₹75. This fee has been waived until December 31, 2026, for updates done through the Aadhaar mobile application.
ICICI Bank Raises DCC Fee To 3.5% From 1%, New Debit Card Charges To Take Effect From June 21, 2026SBI Credit Card Revision
SBI Card has revised reward point rules for select PhonePe SBI credit cards.
The changes affect PhonePe SBI Credit Card PURPLE and SELECT BLACK users. New limits on reward earnings and more non-reward transactions will apply from July 1.
HDFC Lounge Access Rules
HDFC Bank has changed airport lounge access rules for credit card users.
From July 1, cardholders will get three free domestic lounge visits per quarter only if they spent at least Rs 60,000 in the previous quarter.
This makes lounge access spend-based instead of automatic.
Income Tax Rules Overhaul Begins April 1, New Tax Year System & Revised Deadlines Come Into ForceHigher Passport Charges
Passport services will become costlier from July 1.
The Ministry of External Affairs has increased fees for both normal and Tatkaal passport services in India and overseas.
Applicants should be prepared for higher costs while applying or renewing passports.
New Income Tax Rules From April 1, 2026 Explained, Key Changes In ITR, PAN, HRA & Investments Simplified For TaxpayersNew RBI Protection Rules
The Reserve Bank of India has introduced stricter rules to prevent mis-selling of financial products by banks.
Under the new rules, customers mis-sold financial products will be eligible for a full refund and compensation for losses.
This aims to improve transparency and strengthen customer protection.