Monday, August 11, 2025
Hyderabad News Hunt
  • Home
  • Latest
  • Hyderabad
  • Telangana
  • Nation
  • Crime
  • Politics
  • Business
  • World
  • Top Stories
  • Telangana Rising
  • News in Urdu
No Result
View All Result
  • Home
  • Latest
  • Hyderabad
  • Telangana
  • Nation
  • Crime
  • Politics
  • Business
  • World
  • Top Stories
  • Telangana Rising
  • News in Urdu
No Result
View All Result
Hyderabad News Hunt
Home Hyderabad

Key financial rule changes from July: PAN, tax filing, bank fees updated

by HNH Web Desk
28-06-25 08:02 AM
financial rule changes

Hyderabad: A series of financial rule changes taking effect from July will impact individual taxpayers and bank customers. These include mandatory Aadhaar verification for new PAN applications, an extended income tax filing deadline, and revised charges by major banks, including SBI, HDFC, and ICICI.

Starting July 1, Aadhaar verification will be mandatory for anyone applying for a new PAN card. The Central Board of Direct Taxes (CBDT) has introduced this requirement to strengthen tax compliance and digital recordkeeping. Until now, applicants only needed a valid ID and birth proof.

CBDT has also extended the income tax return (ITR) filing deadline for the assessment year 2025–26. Salaried taxpayers will now have until September 15, rather than the earlier July 31 cutoff. Experts have advised early filing to avoid technical issues closer to the deadline.

From July 15, SBI Card will withdraw the complimentary air accident insurance cover on select premium cards. Cards such as Elite, Miles Elite, and Miles Prime will no longer carry the ₹1 crore cover. SBI Prime and Pulse cards will also lose their ₹50 lakh coverage.

SBI will also change how the minimum amount due (MAD) is calculated. From July 15, MAD will include total GST, EMI amounts, all charges and interest, 2% of the outstanding balance, and any over-limit usage. This replaces the earlier formula involving 5% of select charges or 100% of interest.

Starting July 1, HDFC Bank will roll out new fees on certain credit card transactions. A 1% charge is set to kick in for rent payments, monthly gaming expenses over ₹10,000, and utility bill payments that top ₹50,000. The same 1% fee will also apply to wallet top-ups above ₹10,000, though it’s capped at ₹4,999 per transaction.

Customers will now earn reward points on insurance payments, up to a monthly limit of 10,000 points.

ICICI Bank has also announced wide-ranging changes to its fee structure effective July 1. ATM usage fees have been revised. Customers will still get five free transactions monthly at ICICI ATMs. Beyond this, ₹23 will be charged per transaction. At non-ICICI ATMs, users in metro cities will get three free transactions a month, and those in non-metro areas will get five. After the limit, ₹23 will be charged for financial and ₹8.50 for non-financial transactions.

International ATM use will cost more: ₹125 per withdrawal, 3.5% currency markup, and ₹25 for non-cash actions.

IMPS (Immediate Payment Service) transfers will now attract fees ranging from ₹2.50 to ₹15, depending on the transfer amount.

Cash transaction rules have been revised, too. Only three free cash transactions a month will be allowed at branches or CRM machines. Beyond this, ₹150 per transaction will apply. Deposits over ₹1 lakh per month will incur a charge of ₹150 or ₹3.50 per ₹1,000—whichever is higher.

For third-party cash deposits or withdrawals, the limit remains ₹25,000 per transaction.

Related Posts

  • New Financial Year brings key Tax, Banking, and policy changes across Telangana

    HYDERABAD: As the new financial year begins on April 1, 2025, Telangana, along with the…

  • Woman accuses bank staff of fraud, damages ATM in Hyderabad

    Hyderabad, January 11: A dispute over missing money escalated into vandalism at a Union Bank…

  • RBI flags accounting fraud at IndusInd Bank, top officials resign

    Hyderabad: In a major blow to India’s private banking sector, the Reserve Bank of India…

RelatedPosts

Bhatti Vikramarka Jawahar LIS
Hyderabad

Bhatti Vikramarka urges AP to halt Srisailam water diversion, lays foundation for Jawahar LIS

Devadula project Telangana
Hyderabad

Devadula project vital for upland Telangana, says Uttam Kumar Reddy

Ayushman Bharat Telangana
Latest

Kishan Reddy urges Telangana Govt to implement Ayushman Bharat scheme

Load More

Follow us

Recent News

Devadula project Telangana

Devadula project vital for upland Telangana, says Uttam Kumar Reddy

Bhatti Vikramarka Jawahar LIS

Bhatti Vikramarka urges AP to halt Srisailam water diversion, lays foundation for Jawahar LIS

Ayushman Bharat Telangana

Kishan Reddy urges Telangana Govt to implement Ayushman Bharat scheme

Miyapur businessman murder

Businessman stabbed to death in Miyapur, Hyderabad

Hyderabad News Hunt

Contact Us

Info@hyderabadnewshunt.com

Recent News

Devadula project Telangana

Devadula project vital for upland Telangana, says Uttam Kumar Reddy

Bhatti Vikramarka Jawahar LIS

Bhatti Vikramarka urges AP to halt Srisailam water diversion, lays foundation for Jawahar LIS

  • Latest
  • Hyderabad
  • Telangana
  • Nation
  • Crime
  • Politics
  • Business
  • World
  • Telangana Rising
  • Privacy Policy
  • Latest Blogs
  • Sitemap

Copyright © Hyderabad Digital Media Services, 2024. All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • Latest
  • Hyderabad
  • Telangana
  • Nation
  • Crime
  • Politics
  • Business
  • World
  • Top Stories
  • Telangana Rising
  • News in Urdu

Copyright © Hyderabad Digital Media Services, 2024. All Rights Reserved