&w=3840&q=100)
Tax deadline to train ticket cost: Key financial changes from July
Aadhaar is now mandatory for new PAN cards
From July 1, the Central Board of Direct Taxes (CBDT) has made Aadhaar mandatory for anyone applying for a new PAN card. While earlier other documents such as a driving licence or birth certificate were enough, Aadhaar is now compulsory. Existing PAN holders have until December 31, 2025, to link their Aadhaar to avoid deactivation.
Tax filing deadline extended
In welcome news for taxpayers, the deadline for filing income tax returns (ITR) has been extended from July 31 to September 15, 2025. This gives salaried individuals more time to organise documents such as Form 16 and avoid last-minute portal glitches.
HDFC Bank has introduced a 1 per cent fee on:
-Wallet top-ups over Rs 10,000
-Online gaming spends above Rs 10,000
-Utility payments exceeding Rs 50,000 (excluding insurance)
-Rent and fuel payments crossing Rs 15,000
-The maximum monthly charge is capped at Rs 4,999.
SBI Cards will discontinue its air accident insurance for certain premium cards from July 15 and revise how the minimum amount due is calculated, potentially increasing interest costs for cardholders paying only the minimum each month.
ICICI Bank has hiked charges on:
-ATM withdrawals beyond free limits (Rs 23 for cash, Rs 8.50 for balance checks)
-IMPS transfers (Rs 2.5 to Rs 15 depending on the amount)
-Cash deposits above Rs 1 lakh (Rs 150 or Rs 3.5 per Rs 1,000)
Tatkal train booking rules and new fare
Booking Tatkal tickets now requires Aadhaar verification on IRCTC platforms. From July 15, two-factor OTP authentication becomes mandatory for both online and counter Tatkal bookings. Agents will be barred from booking tickets during the first 30 minutes of the Tatkal window to curb misuse.
Additionally, Indian Railways is likely to raise fares slightly, by 1 paisa/km for non-AC and 2 paisa/km for AC travel.
Other notable changes
GST returns: GSTR-3B forms will now be auto-filled and non-editable, locking in the data filed from July onwards.
Axis Bank: Out-of-network ATM fees have been raised to Rs 23 per transaction.
Delhi fuel ban: End-of-life vehicles will be denied fuel at petrol pumps using camera-based checks linked to the VAHAN database.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India Gazette
20 minutes ago
- India Gazette
India's per capita debt of individual borrower rises significantly over last two years: RBI Report
New Delhi [India], July 1 (ANI): The per capita debt of individual borrowers in India has witnessed a sharp increase over the past two years, rising from Rs 3.9 lakh in March 2023 to Rs 4.8 lakh in March 2025, according to the financial stability report released by the Reserve Bank of India (RBI). The report highlighted that this rise in debt levels has been primarily driven by higher-rated borrowers. RBI stated, 'At an aggregate level, the per capita debt of individual borrowers has grown from Rs 3.9 lakh in March 2023 to Rs 4.8 lakh in March 2025'. At an aggregate level, the growth in household debt has been supported by steady increases in housing loans, which formed 29.0 per cent of the total household debt as of March 2025. While the growth in housing loans has remained stable overall, a deeper look at the data shows that incremental growth is being led by existing borrowers. These borrowers are availing additional loans, and their share has increased to more than one-third of the total housing loans sanctioned in March 2025. The report also flagged a concerning trend of increasing loan-to-value (LTV) ratios. The share of borrower accounts with LTV ratios greater than 70 per cent is on the rise. Additionally, delinquency levels remain elevated among lower-rated and more heavily leveraged borrowers, though these levels have declined considerably compared to the period during the COVID-19 pandemic. India's household debt has been on an upward trajectory in recent years, mainly due to increased borrowing from the financial sector. However, as of end-December 2024, household debt stood at 41.9 per cent of GDP at current market prices, which is still relatively low when compared with other emerging market economies (EMEs). Among the broad categories of household debt, non-housing retail loans have taken the lead. These loans, which are primarily used for consumption purposes, accounted for 54.9 per cent of total household debt as of March 2025. They also represented 25.7 per cent of disposable income as of March 2024. The share of non-housing retail loans, like auto loans and loans for white goods has been rising steadily over the years, and their growth has outpaced that of housing loans as well as loans taken for agriculture and business purposes. The Central bank report highlighted the importance of monitoring household debt trends, particularly the shifts in borrower profiles and lending patterns, to ensure long-term financial stability. (ANI)
India Gazette
20 minutes ago
- India Gazette
ED seizes incriminating docs in raids across 13 places in Delhi-NCR, Punjab under PMLA
New Delhi [India], July 1 (ANI): The Enforcement Directorate (ED) has seized several incriminating documents, digital devices, and details of movable and immovable properties during searches conducted at 13 locations in Delhi, NCR and Punjab's Mohali in an ongoing investigation against Raheja Developers Ltd , its Directors, and others, the agency said on Tuesday. The raids were conducted on June 27 under the provisions of the Prevention of Money Laundering Act (PMLA), 2002. The federal agency initiated an investigation on the basis of multiple First Information Reports (FIRs) registered by Delhi's Economic Offences Wing under various sections of the Indian Penal Code, 1860, against Raheja Developers Ltd., its Managing Director Naveen Raheja, and others. 'The FIRs allege that substantial sums were fraudulently collected from investors and homebuyers by Raheja Developers Ltd on the promise of delivering residential flats in various group housing projects but failed to hand over the promised flats,' said the ED in a statement. Meanwhile, ED has attached immovable properties worth Rs 28.36 crore located at Delhi, Gurugram, Faridabad, Sonipat, Amritsar and Greater Noida in a more than Rs 950 crore bank fraud case linking Sunstar Overseas Ltd, the agency said on Friday. ED's Gurugram Zonal Office attached the properties under the Prevention of Money Laundering Act (PMLA), 2002. The federal agency initiated investigation based on the First Information Report (FIR) of Central Bureau of Investigation (CBI), Chandigarh registered against Sunstar SOL, its ex-directors-- Rohit Aggarwal, Rakesh Aggarwal, Naresh Aggarwal, Sumit Aggarwal-- and others under various sections of Indian Penal Code, 1860 for 'committing fraud, criminal misappropriation, criminal breach of trust, cheating and causing wrongful loss of more than Rs 950 crore, to a consortium of nine lender banks lead by Karur Vyasya Bank. ED said its investigation revealed that ex-directors and promoters of SOL laundered the loan amounts availed by the firm through a web of related and controlled beneficially owned entities, a shell entity and a dummy entity. 'Investigation also revealed that ex-directors and promoters of SOL regained actual and indirect control by misusing Corporate Insolvency Resolution Process (CIRP) proceedings of National Company Law Tribunal (NCLT),' said the ED in a statement. (ANI)
India Gazette
21 minutes ago
- India Gazette
Delhi Police seizes 15-year-old petrol, 10-year-old diesel vehicles from petrol pump under scrappage rules
New Delhi [India], July 1 (ANI): The Delhi Police on Tuesday seized two end-of-life vehicles (ELVs), a 15-year-old petrol bike and a 10-year-old diesel bike, from a petrol pump in the city, as part of its ongoing enforcement of scrappage rules for outdated vehicles. Traffic officials confirmed that both motorcycles were found operating in violation of the National Green Tribunal (NGT) guidelines, which prohibit the use of petrol vehicles older than 15 years and diesel vehicles older than 10 years in the national capital. While speaking to ANI, Ashok Kumar, Traffic Inspector, said, 'Two motorcycles have been seized from here. As per guidelines, we will hand over to the registered vehicle scrapper. After that, the owner of the vehicle will be given the scrap value as per norms.' Meanwhile, a separate development, petrol pumps across the national capital posted notices warning against fueling End-of-Life Vehicles (ELVs) were seen pasted on display boards. The warning stated that 'fuel will not be dispensed to end-of-life vehicles (ELVs) - 15-year-old petrol and 10-year-old diesel vehicles from July 1, 2025.' Along with these notices, CCTV cameras and speakers were also installed at several fuel stations to monitor compliance and inform customers. On June 24, Delhi's fuel ban on diesel vehicles older than 10 years and petrol vehicles older than 15 years from July 1st, 2025, is likely to deliver Rs 4.5 Lakh Crore of gain to auto companies, auto importers, and government tax collections, according to a recent report by the Global Trade Research Initiative (GTRI). 'If 1.8 million old vehicles are replaced by new cars with an average price of Rs 15 lakhs each, the total turnover for the auto industry would amount to Rs 2.7 lakh crore,' GTRI said. The report further adds that, with this replacement of old vehicles with the new ones, the central government will be able to collect approximately Rs 1,35,000 crore from GST and compensation cess, while the Delhi government would gain around Rs 42,187 crore from road tax and diesel surcharges. GTRI also outlines that, 'Real values will be at least 50 per cent higher as this data ignores the revenue to be collected on account of the replacement of 4.4 million two-wheelers.' On the flip side, this rule of diesel vehicles older than 10 years and petrol vehicles older than 15 years will no longer be allowed to refuel at any petrol pump across the capital, will impose harsh costs on small businesses, informal sector workers, and middle-class families who still rely on older vehicles for mobility and livelihoods. (ANI)
