From LPG to PAN-Aadhaar linking, here are some major changes on the first day of the year that will impact your pocket

The new year has begun. With it, several important changes have also come into effect, which will impact your pocket. These include several changes to income tax return filing and forms, new rules for PAN-Aadhaar linking, changes to bank regulations that will come into effect in January, and more. 

Furthermore, significant changes have been seen in LPG and jet fuel prices, which could significantly impact your pocket. Let us tell you what major changes have been seen today, January 1st.

Revised return cannot be filed

Starting today, January 1, 2026, taxpayers will no longer be able to file revised income tax returns for AY 2025-26. The Income Tax Department repeatedly advised taxpayers to file revised income tax returns due to alleged discrepancies in their original returns. The deadline for filing revised returns was December 31. After this, taxpayers will be required to file updated returns, or ITR-U.

Belated return cannot be filed

The deadline for filing belated returns also ended on December 31st. Starting January 1st, taxpayers will no longer be able to file belated returns for the financial year 2025-26. Belated income tax returns are filed by taxpayers who fail to file their original returns by the deadline (September 16th this year).

Credit score update deadline

Starting January, credit bureaus have changed the way they update your credit score, one of the biggest financial changes since January 1. 

Additionally, your credit score will be updated weekly instead of the current 15-day cycle. This will ensure that your credit behavior, such as payments or advance payments, will be reflected in your credit score much faster.

The last date for linking PAN-Aadhaar has ended.

The deadline for linking PAN and Aadhaar also ended on December 31st. Linking PAN and Aadhaar will become mandatory from January 1st. 

Those who do not link their PAN with Aadhaar will have their PAN deactivated, creating numerous problems. With an inactive PAN, you will be unable to file taxes or perform banking tasks, such as opening an account or applying for a loan.

Eighth Pay Commission implemented

The Eighth Pay Commission has come into effect from January 1, 2026. The government has stated that the recommendations of pay commissions are generally implemented every ten years. 

Given this trend, the effect of the Eighth Central Pay Commission recommendations is generally expected from January 1, 2026. However, salary increases under the Eighth Pay Commission are expected only after the changes are implemented, which is likely to be delayed.

Commercial LPG becomes expensive

While domestic gas prices remain unchanged, commercial gas cylinder prices have seen a significant increase. Commercial gas cylinder prices have increased by ₹111 across all four metropolitan areas, marking the largest increase since October 2023. 

Significantly, this is the first time since November 2023 that the price of a commercial gas cylinder has been increased by more than ₹100.

Changes to be made in IRCTC from January 2026

The Railway Board has decided to expand the Aadhaar-authenticated booking window in a phased manner on the inaugural day of the Advance Reservation Period. 

Starting January 5, 2026, Aadhaar-verified users will be able to book general reserved train tickets online between 8:00 AM and 4:00 PM on the inaugural day. Starting January 12, 2026, this window will be open from 8:00 AM to 12:00 AM.

SBI Card Changes in January 2026

Effective January 10, 2026, SBI Cards' Domestic Airport Lounge Access Program will offer a vast network of airport lounges categorized into Set A and Set B depending on the type of SBI credit card held by the customers.

HDFC Bank Debit Card Spending Limit

HDFC Bank has announced changes to the spending criteria for debit card holders to avail free airport lounge access starting January 10, 2026. 

This new system, part of the HDFC Bank Debit Card Lounge Program, implements a voucher-based system aimed at streamlining and making access convenient for cardholders.

Changes in ICICI Bank Credit Card Rules

ICICI Bank has announced new changes to credit card features and customer charges that will be effective between January and February 2026. 

These updates impact reward point accrual, movie benefits, add-on card fees, dynamic currency conversion charges, and transaction-related charges on several popular ICICI Bank credit cards.

Jet fuel prices reduced

On the other hand, jet fuel prices have been significantly reduced, which is expected to lead to a drop in airfares. According to IOCL data, jet fuel prices for domestic flights in all four metropolises have been reduced by more than 7 percent, while jet fuel prices for international flights at the same metropolis airports have been reduced by more than 8 percent.

Aadhar card
income tax return