The new year has started. Along with this, many new important changes have also been implemented. Which will affect your pocket. These include many changes in income tax return filing and forms, new rules for PAN-Aadhaar linking, changes in bank rules coming into effect from January and others. Apart from this, significant changes have also been seen in the prices of LPG and jet fuel, which can have a big impact on your pocket. Let us also tell you what major changes have been seen today i.e. on January 1st.
Revised return cannot be filed
From today i.e. January 1, 2026, taxpayers will not be able to file revised returns of their income tax returns for AY2025-26. Taxpayers were repeatedly advised by the Income Tax Department to file revised income tax returns due to alleged discrepancies in their original returns. The last date for filing revised returns was 31 December. After this, taxpayers will have to file an updated return or ITR-U.
Billeted return cannot be filed
The last date for filing billeted returns has also ended on 31st December. From January 1, taxpayers will not be able to file billeted returns for the financial year 2025-26. Belated income tax returns are filed by taxpayers who forget to file their original returns by the prescribed deadline (September 16 this year).
Credit score update deadline
Since January, the credit bureaus have changed the way they update your credit score, one of the biggest financial changes since January 1. Additionally, your credit score will be updated weekly instead of the current 15-day cycle. This will ensure that your credit behaviour, such as payments or advance payments, will be reflected in your credit score much faster.
Last date for linking PAN-Aadhaar ends
The last date for linking PAN-Aadhaar has also ended on 31st December. Linking PAN-Aadhaar will become mandatory from January 1. Those who do not link Aadhaar with PAN, their PAN will become inactive, which will cause many problems. With an inactive PAN, you will not be able to file taxes or perform banking activities, such as opening an account or applying for a loan.
Eighth Pay Commission implemented
The Eighth Pay Commission has come into effect from January 1, 2026. The government has said, generally the recommendations of pay commissions are implemented at an interval of every ten years. Considering this trend, the effect of the eighth recommendations of the Central Pay Commission is generally expected from January 1, 2026. However, the pay increase under the Eighth Pay Commission is expected only after the changes are implemented, which is likely to be delayed.
Commercial LPG becomes expensive
Although there has been no change in the prices of domestic gas, a big increase has been seen in the prices of commercial gas cylinders. An increase of Rs 111 has been seen in the prices of commercial gas cylinders in all four metros of the country. Which is the biggest increase after October 2023. The special thing is that for the first time after November 2023, the price of commercial gas cylinder has been increased by more than Rs 100.
Changes in IRCTC from January 2026
Railway Board has decided to extend the Aadhaar-authenticated booking window in a phase-wise manner on the opening day of the advance reservation period. From January 5, 2026, Aadhaar-verified users will be able to book general reserved train tickets online between 8:00 am to 4:00 pm on the inauguration day. From January 12, 2026, this window will be open from 8 am to 12 midnight.
Changes in SBI card in January 2026
Effective January 10, 2026, SBI Card’s domestic Airport Lounge Access program will offer a vast network of airport lounges categorized into Set A and Set B depending on the type of SBI Credit Card held by customers.
HDFC Bank Debit Card Spending Limit
HDFC Bank has announced changes in the spending criteria for debit card holders for free airport lounge access starting January 10, 2026. The new system, part of the HDFC Bank Debit Card Lounge Programme, implements a voucher-based system aimed at streamlining and convenient access for cardholders.
Changes in ICICI Bank Credit Card Rules
ICICI Bank has announced new changes in credit card facilities and customer charges that will be effective between January and February 2026. These updates impact reward points earning, movie benefits, add-on card charges, dynamic currency conversion charges and transaction related charges on many popular ICICI Bank credit cards.
Reduction in jet fuel prices
On the other hand, there has been a big reduction in the prices of jet fuel. After which there is a possibility of reduction in air fares. According to IOCL data, jet fuel prices for domestic flights have been reduced by more than 7 percent in all four metros of the country. Whereas the price of jet fuel for international flights at the airports of similar metros has decreased by more than 8 percent.