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Financial Changes From July 1, 2026: Several significant financial changes are set to take effect on July 1, 2026. These changes may impact taxpayers,
bank customers, credit card users, passport applicants and Aadhaar card holders. Here's a look at the key financial changes coming into effect in July 2026. Take a look. Read more: 8th Pay Commission Salary Calculator: Rs 21 lakh arrears for level 10 central govt employees? Check full salary calculation
Financial changes from July 1, 2026: 6 key updates
1. Passport Fee Hike: Centre to raise charges from July 1
The Centre has revised passport application fees, with the new charges coming into effect from July 1 under the Passports (Amendment) Rules, 2026.
According to the Ministry of External Affairs (MEA), a fresh ordinary passport or reissue of a 36-page passport will now cost Rs 2,500, while applicants opting for a 60-page passport will have to pay Rs 3,500.
The revised fee structure also covers applications under the Tatkaal scheme. From July 1, a 36-page passport issued through Tatkaal will cost Rs 5,000, while a 60-page passport will be priced at Rs 6,000.
Under the Tatkaal scheme, the fee for a replacement 36-page passport has been increased to Rs 7,500, while a 60-page replacement passport will cost Rs 8,500.
2. ITR-1, ITR-2 deadlines
For taxpayers filing ITR-1 and ITR-2 forms, the due date for filing returns for the Financial Year 2025-26 (Assessment Year 2026-27) is July 31, 2026. Missing the prescribed deadlines could result in penalties, restrictions on choosing certain tax regimes and limitations on carrying forward eligible losses to future assessment years.
3. HDFC Credit Card Changes
From July 1, 2026, HDFC Bank credit card holders can enjoy up to three complimentary domestic airport lounge visits every calendar quarter. However, this benefit will be available only if they spend at least Rs 60,000 in the previous calendar quarter.
For example, to qualify for complimentary lounge access during the July-September 2026 quarter, cardholders must spend a minimum of Rs 60,000 between April and June 2026. The same spend-based eligibility criteria will continue to apply for each subsequent calendar quarter.
4. Free update to the Aadhaar card
From July 1, 2026, the Unique Identification Authority of India (UIDAI) will make it free to update the registered email address linked to your Aadhaar card. The usual Rs 75 update fee has been waived for a limited period, allowing users to avail of the service at no cost until December 31, 2026.
According to an official notification, "It has been decided to waive the charges (i.e., Rs 75) for availing the service of email address update through the Aadhaar mobile application and make it free of cost for a period of six months with effect from July 1, 2026, to December 31, 2026."
5. SBI credit card changes
SBI Card has announced changes to the reward point programme for select PhonePe SBI Credit Cards. The change will come into effect from July 1, 2026. The revision affects both PhonePe SBI Credit Card PURPLE and PhonePe SBI Credit Card SELECT BLACK cardholders, as new limits on earning reward points and a broader list of transactions that won't earn reward points have been introduced.
6. HDFC Credit Card Changes
Effective July 1, 2026, HDFC Bank credit card holders can avail of up to three complimentary domestic airport lounge visits every calendar quarter. To qualify for this benefit, cardholders must spend at least Rs 60,000 in the immediately preceding calendar quarter.
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