ITR filing to passport costs: Key financial changes taking effect from July 1
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The changes range from the beginning of the final window for ITR filing and revised passport fees to updated credit card benefits.
Delayed filing may also affect taxpayers’ ability to opt for certain tax regimes and carry forward eligible financial losses.
A host of financial and regulatory changes come into effect across India from July 1, 2026, bringing implications for taxpayers, passport applicants, Aadhaar users, bank customers, and credit card holders. The changes range from the beginning of the final window for Income Tax Return (ITR) filing and revised passport fees to updated credit card benefits.
ITR filing enters final stretch
Taxpayers filing Income Tax Returns through ITR-1 and ITR-2 for FY26 (AY27) now enter the final month before the July 31, 2026 deadline.
Missing the deadline could result in a late filing fee of up to ₹5,000 for individuals earning more than ₹5 lakh annually, while those with income up to ₹5 lakh may face a penalty of ₹1,000. Delayed filing may also affect taxpayers’ ability to opt for certain tax regimes and carry forward eligible financial losses.
Aadhaar email updates free till December
The Unique Identification Authority of India (UIDAI) has removed the ₹75 fee for updating registered email addresses for six months, from July 1 to December 31, 2026.
The benefit is available only for users completing the update digitally through the official Aadhaar mobile application.
Passport fees revised upward
Passport applicants will have to pay more following revised charges notified under the Passports (Amendment) Rules, 2026.
The fee for a standard 36-page passport booklet has been raised to ₹2,500 from ₹1,500, while a 60-page passport booklet will now cost ₹3,500 compared with ₹2,000 earlier. Tatkaal passport charges have also been increased to ₹5,000 for a 36-page booklet and ₹6,000 for a 60-page booklet.
HDFC Bank changes lounge access eligibility
HDFC Bank has updated complimentary domestic airport lounge access benefits for select credit card users.
To avail three complimentary lounge visits in a calendar quarter, customers must now spend at least ₹60,000 in the previous quarter. Spending during April–June 2026 will determine eligibility for the July–September quarter.
SBI Card revises reward programme
SBI Card has modified reward structures for users of PhonePe SBI Credit Card PURPLE and PhonePe SBI Credit Card SELECT BLACK.
The changes introduce monthly limits on reward point accumulation and broaden the list of transaction categories excluded from earning rewards, potentially reducing overall customer benefits.
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