New Rules and Regulations Come into Effect in India: A Summary of Key Changes

Strategic Insights -

Several new rules and regulations have come into effect in India starting from July 1, 2025, affecting various aspects of everyday life. The changes include filing income tax returns, credit card charges, Tatkal train ticket bookings, Aadhaar card mandatory for new PAN applicants, and revised charges on select transactions for HDFC, SBI, and ICICI Bank customers. Additionally, Indian Railways has upgraded the Passenger Reservation System (PRS), allowing over 1.5 lakh ticket bookings per minute, and the Central Board of Direct Taxes has made Aadhaar verification mandatory for new PAN card applications.

Key Takeaways:

  • The deadline for filing non-audit cases for salaried individuals has been extended to September 15, 2025, for the assessment year 2025-26.
  • The self-assessment tax payment deadline stands at July 31, 2025, as per the Central Board of Direct Taxes.
  • State Bank of India will discontinue air accident insurance for select premium cards, while HDFC and ICICI Bank customers will face revised charges on select transactions, including online skill-based games and monthly utility payments.
  • ICICI Bank customers will be charged Rs.23 for transactions above the free five transactions at ATMs, and Rs.8.5 for non-bank ATMs in smaller cities.
  • Indian Railways has upgraded the Passenger Reservation System (PRS) to allow over 1.5 lakh ticket bookings per minute, and the ticketing and reservation process is being revamped.
  • The Central Board of Direct Taxes has made Aadhaar verification mandatory for all new PAN card applications.
  • The Reserve Bank of India has extended its interbank call money market trading window from 9 am-5 pm to 9 am-7 pm, effective today.
  • GST filing citizens will no longer be able to edit their GSTR-3B form once submitted, as it will be auto-populated from the data on GSTR-1/1A form.
  • Charges for online transfers via Immediate Payment Service (IMPS) have been revised to Rs.15 depending on the amount transferred.
  • Cash recycler machine users will get three free cash transactions per month, after which they will be charged Rs.150 per transaction.

Statistics:

  • Over 1.5 lakh ticket bookings per minute will be possible through the upgraded Passenger Reservation System (PRS).
  • The free five ATM transactions at ICICI Bank ATMs will include non-financial transactions.
  • For non-bank ATMs in smaller cities, ICICI Bank will charge Rs.8.5 per transaction beyond the free five.
  • ICICI Bank will charge Rs.23 per transaction for out-of-network ATM withdrawals.
  • The interbank call money market trading window will be extended by two hours each day, from 9 am-5 pm to 9 am-7 pm.
  • The deadline for filing non-audit cases for salaried individuals has been extended to September 15, 2025.

Sources:

  • Hindustan Times
  • Central Board of Direct Taxes (CBDT)
  • State Bank of India (SBI)
  • HDFC Bank
  • ICICI Bank
  • Indian Railways
  • Reserve Bank of India (RBI)
  • Goods and Services Tax Network (GSTN)