Major financial changes in July 2025: Aadhaar-PAN, tax, credit cards, railway tickets and more

6 min read | Updated on June 30, 2025, 09:34 IST

SUMMARY

Starting from July 1, 2025, many personal finance changes will come into effect, impacting the general public significantly. From changes in HDFC Bank credit card rules to new Tatkal rules announced by the Indian Railways, check all key revisions for the next month here.

new income tax rules July 2025, railway ticket booking changes

The Income Tax filing deadline for the financial year 2024-25 is not July 31 anymore but September 15.

Every month, many financial changes come into effect that impact the personal finances of individuals and households. The month of July, which also marks the beginning of the second quarter of the current financial year, is set to bring many changes with it, from new Tatkal ticket rules by Indian railways to GST filing changes.

Here are some of the major financial changes that will be implemented in July 2025:

Mandatory Aadhaar for new PAN

Starting from July 1, 2025, Aadhaar will be mandatory for getting a new permanent account number (PAN) card. As per a new rule by the Central Board of Direct Taxes (CBDT), individuals who seek a new PAN card would need to have an Aadhaar number, and Aadhaar verification would be mandatory.

Currently, any valid identity card and birth certificate are required to get a PAN card. Experts believe that Aadhaar-based verification has been brought to encourage digitalisation and ensure compliance in tax filing.

The last date for linking your PAN with Aadhaar is December 31, 2025, for those who obtained their Aadhaar on or before October 1, 2024, using an Aadhaar enrolment ID. After the deadline, the PAN of these individuals will become inoperable. This is being done to prevent the creation of fake PAN cards and increase security. Additionally, as per the Income Tax Department, individuals can hold only one PAN card. Having more than one PAN card can result in a fine of ₹10,000.

Tatkal ticket rules

The Ministry of Railways recently announced that starting from July 1, only users who have done Aadhaar authentication will be able to book Tatkal tickets through IRCTC’s official website and mobile application.

Further, from July 15, Aadhaar-based OTP authentication will be mandatory for booking Tatkal tickets online.

"With effect from 01-07-2025, tickets under the Tatkal scheme can be booked through the website of Indian Railway Catering and Tourism Corporation (IRCTC)/ its app only by Aadhaar authenticated users," the ministry said in a circular dated June 10.

The new rule is expected to allow people to book Tatkal tickets in need and will prevent agents from unethically hoarding these tickets.

Additionally, from July 15, OTP authentication will be required for Tatkal tickets booked at computerised PRS counters and through authorised agents. Authentication can be done through the phone number provided by users at the time they booked Tatkal tickets. It’s important to note that in this case, Aadhaar authentication won’t be required.

Railway bookings by authorised agents

Another major change introduced by the Indian Railways is that agents who are authorised by the Indian Railways will not be able to book Tatkal tickets during the first 30 minutes after the booking window opens. These authorised agents will be blocked from booking air-conditioned class Tatkal tickets between 10:00 am and 10:30 am, and non-AC class tickets from 11:00 am to 11:30 am. This rule will also come into effect from July 15 and is expected to prevent bulk bookings by agents during the critical half-hour period.

Train fares

The railway ministry is also considering revising ticket rates marginally from July 1, 2025. Officials said on Tuesday, June 24, that the Ministry of Railways has proposed a hike of one paisa per kilometre for non-AC classes in Mail/Express trains and two paise per kilometre for all AC classes. If this is implemented, it will be the first revision in train fares since Covid-19 in January 2020.

“As compared to the previous fare revisions in 2020 and 2013, the current increase will be the lowest,” PTI quoted a railway official as saying.

In January 2020, the railways increased the fares by 1 paisa per km for ordinary second class and 2 paise for Mail/Express second class tickets.

According to the report, the hike, if implemented, can generate an additional revenue of ₹700 crore for the remaining financial year 2025-26, and the estimated additional revenue would be over ₹920 crore for the full FY26.

GST changes

Earlier this month, the Goods and Services Tax Network (GSTN) announced that the monthly GST payment form GSTR-3B will become non-editable starting July 2025.

“GST Portal provides a pre-filled GSTR-3B, where the tax liability gets auto-populated based on the outward supplies declared in GSTR-1/ GSTR-1A/ IFF. As of now, taxpayers can edit such auto-populated values in form GSTR 3B itself,” GSTN said in the advisory dated June 7.

GSTN, in a separate advisory, also said that with effect from the July tax period, taxpayers will not be able to file monthly and annual GST returns after three years from the original filing due date.

Taxpayers will not be able to file GSTR-1, GSTR 3B, GSTR-4, GSTR-5, GSTR-5A, GSTR-6, GSTR 7, GSTR 8 and GSTR 9 on expiry of three years from the filing due date, the GSTN said.

It advised taxpayers to reconcile their records and file their GST returns as soon as possible if not filed till now, the advisory stated.

HDFC Bank credit card changes

HDFC Bank has announced significant changes in its credit card charges and reward points that will come into effect on July 1. Among the various revisions, the bank has introduced a 1% charge on wallet loading (above ₹10,000), utility payments (above ₹50,000), and online gaming transactions (above ₹10,000). This 1% charge is capped at a maximum of ₹4,999 per month. Further, a 1% charge would also be levied on all rent payments (regardless of the amount), fuel transactions above ₹15,000 and education payments made through third-party applications.

The bank has also revised its reward point policy. From July 1, there will be no reward points on online skill-based gaming transactions, and insurance reward point limits will have monthly limits instead of the daily limits that are currently applicable. Many other changes have also been introduced, affecting HDFC Bank customers who have high spending habits. However, if users spend decent, or reasonable amounts, and stay below their threshold, they can avoid these charges.

ITR deadline extended

It’s important to remember that the tax filing deadline for this financial year is not July 31 anymore. The Central Board of Direct Taxes (CBDT) extended the deadline to September 15, 2025, for the financial year 2024-25 and assessment year 2025-26, due to many changes in the ITR forms this year.