Key financial changes from 1 July you must know:From LPG to petrol diesel prices – here’s what can impact your pocket

A new month has kicked off on Wednesday, 1 July, 2026. Some imperative financial changes can affect your wallet, your travel plans, and your taxes. Here is a list of these key changes: 1. Income Tax (ITR) deadline is near The Change: You must submit your Income Tax Return (ITR) for the past financial year 2025-26 by 31 July, 2026. If you are late, you will have to pay a fine. The fine can be up to ₹5,000 if your annual income is more than ₹5 lakh. If your income is less than ₹5 lakh, the fine is ₹1,000. 2. Flight ticket prices may reduce from 1 July The Change: The government reviews ATF prices on a fortnightly basis, based on the movement of global crude prices. The next official jet fuel price revision takes effect on 1 July. On the back of softening crude prices, the Centre may reduce ATF prices, giving space to airlines for a downward airfare revision. Oil prices have dropped to pre-war levels with Brent crude hovering around $72/barrel, currently. 3. Passports will cost you more The Change: If you want to apply for a new passport or renew your old one, you will have to pay more. The government has increased passport fees for the first time in 14 years. A normal 36-page passport will now cost ₹2,500 (it used to be ₹1,500). If you need it very fast under the Tatkaal plan, it will cost ₹5,000 (it used to be ₹3,500). 4. HDFC Bank Credit Cards lounge access The Change: If you fly often, your credit card benefits might change. For HDFC Bank credit cards, you can only enjoy 3 free domestic airport lounge visits in a quarter of three months if you spend at least ₹60,000 using that card in the previous quarter, reported business daily, ‘The Economic Times.’ 5. Govt may revise LPG, petrol diesel prices Additionally, monthly price revisions for fuels like LPG, petrol, diesel, CNG, and PNG are being watched closely, which can affect daily travel and living costs. 6. Free Aadhaar email updates The Change: Here is some good news! If you want to add or change your email address on your Aadhaar card, you do not have to pay the ₹75 fee anymore. This service will be 100% free for six months (from 1 July, 2026, to 31 December, 2026) if you use the official Aadhaar mobile application.While, the charges of ₹75 will continu to be applied when the citizen requests for the same on Aadhaar’s website and centres. 7. SBI Credit Card reward points are changing The Change: If you use PhonePe SBI credit cards (like the Purple or the Select Black card), the rules for earning reward points are changing. There will be a new maximum limit on how many points you can get, and some shopping categories will no longer give you any reward points, as reported by the business daily, ‘The Economic Times.’ 8. Full refund if bank sells you wrong financial product The Change: Citing the Reserve Bank of India’s (RBI) new rules to stop banks from selling you wrong financial products by lying or tricking you, the business daily said that if a bank tricks you into buying the wrong plan like a different insurance policy or mutual fund scheme, then, the bank must give you a full refund and pay you back for any money you lost. 9. Petrol, diesel sale limits to be lifted The government had decided to withdraw all emergency restrictions imposed on the purchase of petrol and diesel from 1 July. Under the new order, the limit of 200 litres of diesel per vehicle per day at petrol pumps was removed. This means vehicle owners can now refill as much diesel as they require.