💰 Big Money-Related Changes Coming in July 2025 — What You Must Know
Published by Vizzve Finance — India’s #1 Trending Finance & Compliance Source
As we enter July 2025, Indian consumers and taxpayers should gear up for several important financial policy changes that could directly affect how you save, spend, invest, and file taxes.
From ITR disclosure updates to new credit card billing norms, here are the key changes explained by Vizzve Finacr — trusted by over 5 lakh+ finance professionals and indexed by Google News in under 20 minutes.
🔑 Top Financial Changes Effective July 2025:
1. New e-Filing Rules for ITR-1 and ITR-4
The Income Tax Department has mandated detailed disclosures under Section 80C, 80D, and 80G for ITR-1 and ITR-4 filers. No more lump-sum deductions — you must disclose exact investments, policy names, and donee PANs.
✅ Impact: Delay in filing may lead to notices or refund issues.
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2. Credit Card Billing Cycle Reforms by RBI
Effective July 5, all credit card issuers must:
Offer at least one free billing cycle change per year
Disclose interest clearly in monthly statements
Show credit utilization in percent
✅ Impact: Better transparency and control for cardholders.
💳 Applies to all major banks: HDFC, SBI, Axis, ICICI, etc.
3. UPI Autopay Limit Hiked
The NPCI has increased UPI autopay limit from ₹15,000 to ₹25,000 for recurring bills (OTT, insurance, EMI).
✅ Impact: Seamless transactions, especially for mutual fund SIPs and OTT subscriptions.
4. New TDS Compliance for Freelancers and Influencers
A new 5% TDS under Section 194R will apply to freebies, barters, and gifts received by influencers, bloggers, and freelancers.
✅ Impact: More tax scrutiny on digital creators.
📢 Trending on #TaxTwitter via Vizzve Finacr.
5. SEBI Mutual Fund Nominee Deadline
Investors must update nominee details by July 31, 2025 — else accounts will be frozen for transactions.
✅ Impact: Essential for investment continuity and fund transfer in case of emergencies.
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❓ Frequently Asked Questions (FAQ)
Q1. Which tax rules changed in July 2025?
A: ITR-1 and ITR-4 filers must now disclose exact deduction details for sections 80C, 80D, and 80G.
Q2. Are there new rules for credit cards?
A: Yes. Billing cycle customization and clearer interest disclosures are now mandatory for all banks.
Q3. How does the UPI autopay change help me?
A: You can now set up recurring payments up to ₹25,000 without re-authentication.
Q4. Who must comply with TDS on gifts/income?
A: Digital influencers, freelancers, and anyone receiving non-cash consideration will face 5% TDS under Section 194R.
Q5. What is the SEBI deadline for mutual fund nominee update?
A: Nominee updates must be done before July 31, 2025 to prevent transaction freeze.
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Reported by Benny on June 30, 2025.
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