Several financial and policy changes have come into effect from July 1, impacting households, taxpayers, businesses and banking customers across the country. The latest changes cover commercial LPG prices, Aadhaar services, passport fees, banking rules and income tax filing deadlines.
Commercial LPG becomes cheaper
Businesses using commercial cooking gas will benefit from a reduction in LPG prices. Oil marketing companies have reduced the price of a 19-kg commercial LPG cylinder by Rs 183.50 in Delhi.
After the revision, the price of a 19-kg commercial cylinder in Delhi stands at Rs 2,930. The price of the 5-kg Free Trade LPG cylinder has also been reduced. However, there has been no change in domestic LPG cylinder prices.
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Aadhaar and ITR deadlines
Aadhaar users can now update or add their registered email address through the Aadhaar mobile application without paying any fee. The Unique Identification Authority of India has waived the earlier Rs 75 charge for this service until the end of the year.
Meanwhile, taxpayers filing ITR-1 and ITR-2 for FY 2025-26 must submit their returns by July 31, 2026. Delayed filing could result in penalties and affect certain tax benefits.
The deadline for filing ITR-3 and ITR-4 has been extended to August 31, 2026.
New rules for credit cards and banks
Several banks have revised customer benefits from July 1. Selected PhonePe SBI Credit Card users will see changes in reward point calculations, while HDFC Bank has introduced spending conditions for complimentary airport lounge access.
Cardholders will now need to spend at least Rs 60,000 in the previous calendar quarter to receive complimentary domestic lounge visits in the next quarter.
The Reserve Bank of India (RBI) has also implemented stricter consumer protection rules. Banks must now ensure that financial products offered to customers are suitable for their needs. Customers may become eligible for compensation if products are sold through misrepresentation.
Higher passport fees and EPFO services
Passport application charges have increased for both regular and Tatkaal services. The revised fee structure applies to new applications as well as renewals.
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The Centre has also withdrawn temporary restrictions on petrol and diesel sales after reviewing fuel availability.
Additionally, the Employees’ Provident Fund Organisation is restoring its online services after completing a scheduled system upgrade aimed at improving performance, security and service delivery.
FAQs:
What are the major changes from July 1?
LPG prices, Aadhaar updates, passport fees, ITR deadlines and banking rules have changed.
Has the domestic LPG cylinder price changed from July 1?
No, only commercial LPG cylinder prices have been reduced.
