PAN-Aadhaar rule and new bank charges take effect from today
Several financial developments in July 2025 will have an impact on millions of Indians. The Central Board of Direct Taxes (CBDT) will soon require Aadhaar for all new PAN applications and also extend the deadline for ITR filing.
At the same time, many major banks, including SBI, HDFC, and ICICI, will restructure their charges on cards, ATMs, and other activities.PAN-Aadhaar rule
Here is an overview of the changes made today and what they mean for you:
- AADHAAR NOW REQUIRED FOR PAN CARD APPLICATIONS
The CBDT has now made it so that starting from today, Aadhaar will also be used to verify applicants who want to apply for a new PAN card. Previously, a valid photo ID and a birth certificate were always enough. According to the CBDT, it is a step toward strengthening the tax system and digital verification.
- ITR DEADLINE TO FILE EXTENDED TO SEPTEMBER 15
The CBDT has granted taxpayer relief in the form of extending the income tax return filing deadline for Assessment Year 2025-26, to September 15 from the prior deadline of July 31. Tax professionals still suggest, due to system rush and last-minute mistakes, to also file early.PAN-Aadhaar rule
- SBI CARD TO STOP FREE AIR ACCIDENT INSURANCE
From today, SBI Card will remove the complimentary air accident insurance offered on some premium credit cards like ELITE and PRIME. SBI will also change how it calculates the Minimum Amount Due (MAD) to include EMIs, GST, and fees, which could mean higher monthly payments for cardholders.
- NEW HDFC BANK CHARGES ON RENT, WALLET RELOADS, AND MORE
HDFC Bank will start charging:
- 1% on rent payments and wallet reloads over Rs 10,000
- 1% fee on utility bill payments above Rs 50,000
- 1% fee on gaming spends above Rs 10,000
A transaction fee of Rs 4,999 applies. Customers can now earn up to 10,000 reward points monthly for insurance payments.
- ICICI BANK UPDATES ON ATM AND BRANCH CHARGES
ICICI Bank will change its ATM transaction charges, IMPS fees, and cash handling limits. After a set number of free monthly transactions, customers will need to pay extra for using ATMs or making cash deposits and withdrawals at branches.PAN-Aadhaar rule
WHAT CUSTOMERS SHOULD DO:
- Link Aadhaar with PAN if not already done.
- Note the new ITR deadline and avoid filing late.
- Check your bank’s SMS or website for exact charges.
- Review your credit card spending habits to reduce extra fees.
