Direct impact on the pocket: These 6 big rules are changing from July 1, if you are careless then you will get a big blow!

With the beginning of the new month, there is going to be a major change in many rules related to personal finance and everyday life of common people. Six important changes related to tax filing, identity cards, credit card benefits and banking security are being implemented from July 1, 2026. These new rules will have a direct impact on your pocket and bank account. If you are not alert in time, you may have to face financial loss. Let us know from the eyes of an expert reporter what is going to change from next month and what things you need to pay special attention to. Countdown for ITR filing begins: Heavy penalty will be imposed after July 31. The biggest news for taxpayers is that the last date for filing ITR-1 and ITR-2 for the financial year 2025-26 (assessment year 2026-27) has been fixed as July 31, 2026. If you miss this last date, not only will you have to pay a heavy penalty (late fee) of up to ₹ 5,000, but you may also lose the opportunity to choose the tax regime of your choice. Along with this, if the return is filed late, the facility to carry forward the current year’s business or capital loss (financial loss) to the next years will also be lost. Therefore, to avoid technical problems in the last days, file your ITR immediately. Good news for Aadhar card users: Email ID updating is absolutely free. Unique Identification Authority of India (UIDAI) has given a big relief to the common citizens. From July 1 to December 31, 2026, i.e. for the entire six months, updating your registered email ID through the Aadhaar mobile application has been made completely free. Earlier, to avail this essential digital service, users had to pay a fee of ₹ 75. To avoid online security and fraud, it is very important to keep an active email ID link in your Aadhaar, in such a situation, by taking advantage of this limited time offer, you can update your data without spending any money. Control on credit cards: SBI and HDFC Bank changed the rules of rewards and lounge access. This is a shocking news for the credit card users. There is going to be a big change in the reward point system of PhonePe SBI Credit Card Purple and PhonePe SBI Credit Card Select Black from July 1, 2026. Now a maximum limit (capping) on ​​the monthly reward points available on these cards has been fixed, and the points available on insurance and some other transactions have been stopped or limited. On the other hand, HDFC Bank has also tightened the rules for free domestic airport lounge access available on its select premium credit cards like Regulaia Gold. Now customers will get the benefit of free lounge in a quarter only if they have spent a minimum of ₹ 60,000 in the immediately preceding quarter. That means, to enjoy the airport lounge in the July-September quarter, it is mandatory to meet the spending limit of ₹60k during April-June. International travel will be expensive: Passport fees are going to increase after 14 years. If you are thinking of getting a new passport for traveling abroad or for studies, then there is going to be an additional burden on your pocket. After a long gap of almost 14 years, the Ministry of External Affairs has decided to drastically increase the fees of both Normal and Tatkaal categories under the Passport (Amendment) Rules 2026. From July 1, the new revised rates will be applicable both in the country and abroad. Under this, the fee for an ordinary 36 page new passport is going to increase from ₹ 1,500 to ₹ 2,500, while for Tatkal service, now ₹ 5,000 will have to be paid instead of ₹ 3,500. Big reform in the banking sector: Banks will have to give full refund and compensation on mis-selling. To protect bank customers from financial fraud and deception, the Reserve Bank of India (RBI) is going to implement a very stringent and new anti-mis-selling framework from July 1, 2026. It is often seen that to meet their targets, bank employees sell insurance policies or other investment products by giving wrong or incomplete information to the customers. According to the new rules, if such ‘mis-selling’ is proved with any customer, then the concerned bank will not only have to refund the entire principal amount of the customer, but will also have to fully compensate (compensate) any kind of financial loss suffered by the customer during this period. Apart from this, banks will now not be able to make any promotional or sales calls outside the stipulated time frame of 9 am to 6 pm.