Financial changes in July 2025: Higher ATM fees, new Tatkal rules, Aadhaar OTP must for bookings

From July 2025, several financial changes will affect consumers, particularly in banking and train ticket bookings. Beside, the month is filled with important tax deadlines, ranging from TDS deposits and certificate issuance to quarterly statements and filing obligations. It is worth noting that the deadline for filing income tax returns for non-audited taxpayers has been extended to September 15, 2025, providing some relief. Nevertheless, there are still several related filings and disclosures that are due in July.

Axis Bank is set to revise its ATM transaction fees from July 1, 2025, impacting various accounts, including savings, NRI, and Trust accounts. The fee for financial transactions conducted at ATM machines beyond the free limit is set to rise from Rs 21 to Rs 23 per transaction. This change will affect both Axis and non-Axis ATM users, including Priority and Burgundy category customers. 

The adjustment reflects increased operational costs and aims to improve service delivery. Customers are advised to assess their transaction habits to mitigate these charges. Additionally, it’s crucial for customers to stay informed about these changes to avoid unexpected fees and manage their finances more effectively. 

Banking services

ICICI Bank will also introduce updated service charges effective July 1, 2025. This revision will affect charges across several banking services such as ATM transactions at non-ICICI ATMs, cash deposits and withdrawals, and IMPS money transfers. These alterations will impact customers both in metro and non-metro areas, thereby widening its reach. Customers should proactively review these changes to manage finances and prevent unexpected costs effectively. Furthermore, understanding these changes can help customers optimize their banking activities, ensuring they get the most out of their accounts without incurring unnecessary fees. 

Tatkal train bookings

In addition to banking changes, there will be new regulations for Tatkal train ticket bookings commencing in mid-July 2025. Aadhaar-based OTP authentication will become mandatory for all online Tatkal ticket transactions from July 15, 2025. Tickets booked at computerised Passenger Reservation System (PRS) counters and through authorised agents will require this extra layer of verification. 

Additionally, agents will be restricted from booking Tatkal tickets in the first 30 minutes of the booking window. This move is expected to curtail fraudulent bookings and enhance the booking system’s security. These measures are designed to ensure a fairer and more secure booking process for all passengers, reducing the chances of misuse and enhancing overall trust in the system.

July 2025 tax calendar

As the second quarter of FY 2025–26 advances, taxpayers face crucial deadlines this July. By July 7, businesses and individuals must deposit TDS or TCS deducted in June and upload Form 27C for no-TCS declarations.

July 15 brings multiple filings: TDS certificates for May payments, Form 15CC for foreign remittances, TCS returns for April–June, and declarations via Form 15G/15H for no TDS claims. Stock exchanges and associations must report client code changes for June, while IFSC units and government offices file related forms.

On July 30, TCS certificates for Q1 and challan-cum-statements for June deductions on property sales, rent, or crypto transactions are due.

Finally, by July 31, taxpayers must file Q1 TDS returns, banks report non-deductions on interest, and CAs submit Form 10CCF for foreign deductions. Pension funds and research institutions also have key reporting obligations, with some deadlines extended to September 15.