8 financial rules related to your pocket are going to change in July.
Big financial changes are going to happen from July 1, 2026. New deadlines have been set for taxpayers to file ITR, while Aadhar card holders can update their email for free. SBI and HDFC credit card users will see changes in the terms of reward points and lounge access. Passport fees are set to rise, and banks will face tougher rules against mis-selling of financial products so customers can get refunds and compensation. On the other hand, many changes related to EPFO are going to be seen. Due to which there will be a direct impact on the welfare of common people. Let us also tell you what changes are going to happen…
1. Deadline to file ITR
Taxpayers filing ITR-1 and ITR-2 for the financial year 2025-26 (assessment year 2026-27) will have to file their income tax returns by July 31, 2026. According to the ET report, missing the deadline could lead to penalties, limit the choice of certain tax systems and impact the ability to carry forward eligible losses to future assessment years.
2. Aadhaar email update will be free
From July 1, the Unique Identification Authority of India (UIDAI) will waive the fee of Rs 75 for updating the email address registered in Aadhaar through the Aadhaar mobile app. This facility will remain free for six months, i.e. till December 31, 2026. According to an official notification, it has been decided to waive the charge (i.e. Rs 75) for the service of updating email address through Aadhaar mobile app and make it free for a period of six months from July 1, 2026 to December 31, 2026.
3. Changes in SBI Card Reward Program
SBI Cards will make changes to the reward points program for select PhonePe SBI credit cards from July 1. These changes will be applicable to PhonePe SBI Credit Card PURPLE and PhonePe SBI Credit Card SELECT BLACK. These include the new limit for earning reward points and an increased list of transactions for which reward points will not be available.
4. HDFC Bank Credit Card Lounge Access
HDFC Bank credit card holders will be able to visit domestic airport lounges thrice every calendar quarter for free, provided they have to spend at least Rs 60,000 in the previous calendar quarter. For example, to avail this benefit in the July-September 2026 quarter, cardholders will have to spend at least Rs 60,000 between April and June 2026. This facility based on expenditure will continue for future quarters also.
5. Increase in passport fees
Passport services will become expensive from July 1. The Ministry of External Affairs is changing the fees for both ordinary and emergency passports in India and abroad.
6. RBI’s new mis-selling rules for banks
The Reserve Bank of India (RBI) will implement a new framework to prevent mis-selling of financial products by banks from July 1. Under the new rules, customers who have been mis-sold financial products will be entitled to a full refund and compensation for losses, ET reports.
7. Change in railway rules
Indian Railways has also imposed strict penalties to improve passenger safety and discipline. Traveling illegally in ladies compartment can now attract a fine of up to Rs 2,500, while carrying commercial or dangerous goods without permission will attract a much higher fine.
8. Changes in EPFO
Meanwhile, the government is set to launch EPFO 3.0, a major digital upgrade to simplify provident fund services. It is expected that the new system will provide the facility to withdraw PF faster through UPI and ATM network, which will make it easier for the employees. According to EPFO, EPFO services are likely to be available from July 1, 2026. However, this is an estimated deadline and not a deadline announced by the provident fund institution. EPFO said in a message sent to EPF members that we hope that the services will be restored from July 1, 2026.
