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Rule Change: From credit card to ITR, you should also know about these changes to be made in July


The month of July is fast approaching and with it, many deadlines that directly affect the common man are also about to end. From new rules related to credit card transactions to Income Tax Return (ITR) filing, here are the major tasks with deadlines coming up in July that will have a direct impact:

Paytm Wallet Rules: Paytm Payments Bank will close inactive wallets with no transactions and zero balance for more than a year from July 20, 2024. Users of affected wallets will be notified and given a notice of 30 days before closure.

SBI Credit Card Reward Points: From July 1, 2024, SBI Card will stop storing reward points for certain credit card transactions related to government services.

ICICI Bank Credit Card Charges: ICICI Bank has announced revisions to various credit card services effective July 1, 2024, including increasing the card replacement fee from Rs 100 to Rs 200 for all cards except the Emerald Private Metal Credit Card.

Last Date for Filing ITR: The last date for filing income tax returns (ITR) for the financial year 2023-24 (assessment year 2024-25) is July 31, 2024. Extensions may be provided by the government under special circumstances, wherein late filing may attract a late penalty up to December 31, 2024.

PNB RuPay Platinum Debit Card: Punjab National Bank has updated its Launch Access Program for all variants of the RuPay Platinum Debit Card effective July 1, 2024, offering domestic airport/railway lounge access once per quarter and international airport lounge access twice per year.

Citibank Credit Card Migration: Axis Bank has notified Citibank credit card customers to migrate all relationships including credit card accounts by July 15, 2024.