Several important financial changes in July 2025 will affect millions of people in India. The Central Board of Direct Taxes (CBDT) has announced that from now on, Aadhaar will be needed to apply for a new PAN card. Before, a photo ID and birth certificate were enough, but now Aadhaar will be used to verify your identity. This move aims to make the tax system stronger and more digital.

The CBDT has also extended the deadline to file income tax returns (ITR) for the Assessment Year 2025-26. The new deadline is now September 15, instead of July 31. Even though there is more time, experts advise filing early to avoid last-minute mistakes and website rush.

In banking, SBI Card has stopped offering free air accident insurance on some of its premium credit cards like ELITE and PRIME. It will also change how it calculates the minimum amount due on credit cards, now including EMIs, GST, and fees. This could make your monthly payments higher. HDFC Bank has also updated its charges. It will now charge 1% on rent payments and wallet reloads above Rs 10,000, 1% on utility bill payments above Rs 50,000, and 1% on gaming spends above Rs 10,000.

There is also a transaction fee of Rs 4,999. On the positive side, customers can now earn up to 10,000 reward points each month for insurance payments. ICICI Bank will change ATM charges, IMPS fees, and cash handling limits. After a certain number of free transactions, customers will have to pay extra fees for using ATMs or doing cash deposits and withdrawals at branches. People are advised to link their Aadhaar with their PAN if not already done, note the new ITR deadline, check bank messages or websites for updated charges, and review their spending habits to avoid extra fees.