Your gas bill, your Aadhaar card, and more — July 1 is shaping up to be a big day for your wallet and paperwork. From updated Aadhaar rules to revised LPG prices, a string of new regulations is set to kick in from the first day of the month. Here's a quick breakdown of what's changing and what it means for you.
Tax filing deadline
The deadline for the primary Income Tax Return (ITR) for salaried individuals and non-audit cases for the financial year ending March 31, 2026, is July 31. Salaried employees, individuals with capital gains, house property, or other non-business income which does not need an audit, will have to fill out forms ITR-1 and ITR-2.
TDS deposit deadline
The due date for depositing Tax Deducted at Source (TDS) for the April-June quarter falls on July 7 if quarterly deposit approval has been granted by the Assessing Officer under the provisions of the Income Tax Act, 2025.
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From July 1, the Indian Railways will crack down strictly against offenders. The minimum penalty for travelling without a valid ticket is set to go from ₹250 to ₹500 under amendments related to the Jan Vishwas Act to reduce ticketless travel and improve compliance.
Male passengers travelling in women-reserved coaches could face fines of up to ₹2,500. Higher penalties will also be imposed if passengers are found travelling on another person's ticket. Travelling in a sleeper coach with only a general-class ticket could also attract stricter penalties.
Steeper fines could also be imposed on offences such as hawking without authorisation, begging in trains, creating a nuisance, abusive behaviour, public intoxication, trespassing on railway property, and carrying dangerous goods improperly.
Aadhaar update
The UIDAI has notified that if your email address is not updated on your Aadhaar card, it will be free from July 1 to December. Users can update demographic information such as name, address, date of birth, gender, mobile number, and email without paying the usual charge during this period. Previously, you had to pay ₹75 for the same.
LPG cylinder price change
State-backed oil marketing companies (OMCs) will revise domestic and commercial LPG cylinder prices on July 1, depending on global energy prices and policy decisions.
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CNG, PNG and ATF price revision
Prices of CNG, PNG and ATF may also be revised on July 1, likely impacting the household and travel expenses.
HDFC Bank credit card rule changes
Starting July onwards, HDFC Bank Regalia Gold credit card users will have to meet a new quarterly spending threshold to continue getting domestic airport lounge access. Under this policy, customers will be required to spend at least ₹60,000 in the previous quarter to avail free domestic airport lounge access in the next quarter.
Citi credit card rule changes
Citi credit cards will be fully migrated to Axis Bank by July 15. Customers would continue to retain their existing card number, PIN, expiry date, and CVV. Billing cycles, payment due dates, and statement generation dates will also remain unchanged.
Reward points across products will be consolidated on the Axis Bank platforms and interest charges after migration will follow Axis Bank's rates.
YES Bank credit card rule changes
From July 1, YES Bank credit card users must spend ₹35,000 per quarter to qualify for complimentary domestic airport lounge access. The spending threshold has gone up from ₹10,000 per quarter. The rule change applies to YES Marquee, YES Select, YES Reserv, YES First Preferred, YES Elite and other credit cards.
HSBC credit card reward point changes
From July 1, HSBC will stop awarding reward points on government payments, insurance premiums, wallet loads, fuel purchases, tax payments and utility payments. Cardholders are likely to earn lesser reward points if they frequently spend in these categories.
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