These 5 big rules are going to change from July 1; There will be a direct impact on your salary, tax, PF and credit card.

By Samira Vishwas On Jun 26, 2026

Financial Rules Change (July 1): There are only a few days left for the new month to start. Many big and important changes are going to happen in the financial sector of the country from July 1, 2026. These new rules are going to have a direct and widespread impact on the pockets of employed people, taxpayers, government pensioners and customers using credit cards.

These changes include Income Tax Return (ITR) filing deadline, new digital services of EPFO, Dearness Allowance (DA) of central employees and credit card rules of major banks. If you do not understand these rules in time, you may face problems in tax filing, banking and other financial matters and may also have to pay heavy fines.

1. ITR filing deadline: If tax is not paid on time, heavy penalty will be imposed.

As the month of July approaches, the heartbeats of taxpayers increase. The process of filing income tax returns for the financial year 2025-26 (assessment year 2026-27) is going on at a fast pace.

ITR-1 and ITR-2: Filing of returns without late fees for salaried employees and individual taxpayers Last date 31 July 2026 Has been decided.
ITR-3 and ITR-4: Taxpayers for whom tax audit is not mandatory can file their returns 31 August 2026 Can file till.

Loss due to negligence: If you miss the deadline, you will not only have to pay late fees or fines, but will also lose many tax benefits available under the old tax system. Along with this, you will not be able to carry forward (transfer forward) the business or capital loss of the current year to the next financial year.

2. Withdrawal of PF through UPI will be very easy: EPFO 3.0 is going to be launched.

Employees’ Provident Fund Organization (EPFO) can give a big digital gift to crores of its account holders in the month of July. Much awaited by the department EPFO 3.0 platform There is full hope that it will be launched. The main objective of this new and modern system is to make PF related digital services extremely simple and secure.

The biggest benefit after this upgradation could be that employed employees can You will be able to withdraw your PF money immediately through UPI (Unified Payments Interface).. If this facility is introduced, the time taken for claim settlement will be reduced from several days to just a few hours or minutes.

3. Central employees and pensioners wait for DA increase

The month of July can bring happiness for millions of central employees and pensioners of the country. The central government reviews Dearness Allowance (DA) and Dearness Relief (DR) every year in January and July based on All India Consumer Price Index (AICPI) data.

There is a strong possibility of an official announcement of DA increase in July for the second half of the year 2026. This decision will not only increase the take-home salary of central employees, but will also see a respectable increase in the monthly pension of pensioners and the income of public sector (PSU) employees.

4. HDFC Bank credit card rules changed: You will have to spend this much money for lounge access

If you have HDFC Bank’s popular Regalia Gold Or Diners Club Privilege If you have a credit card, then the rules of airport lounge are going to change completely for you from July 1, 2026. The bank had already implemented some restrictions related to reward points, but now capping is being imposed on the free facilities.

As per the new rule, Regalia Gold cardholders will be able to avail the facility of complimentary domestic lounge access at the country’s airports. Spend at least ₹60,000 in the last calendar quarter It will be mandatory to do. If you do not meet this spending limit, you will not receive free lounge entry.

5. Limit on reward points of SBI Card: Shock for these two card users

The credit card branch of State Bank of India (SBI Card) has also announced a major change in the rules of its two premium co-branded cards. this new rule PhonePe SBI Card Purple And PhonePe SBI Card Select Black But it will become effective from July 1, 2026.

Under the new update, the bank has fixed an upper limit (Max Cap) of the maximum reward points received every month:

The limit of points received on payment of insurance premium and other specific categories of expenses will now be different.
Apart from this, the bonus or maximum reward points received on online shopping has also been reduced significantly as compared to earlier, due to which the monthly benefit of the cardholders will be reduced.