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Income Tax computation queries

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(Querist)
29 March 2024 Good Afternoon to all

Do we have to show "Transfers from other bank account" as income or can be ignore ? Why I am asking this, this transfer is declared as income in other account..

Kindly do the needful
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CA Roomi Gupta

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CA Roomi Gupta (Expert)
29 March 2024 No, Its not necessarily be considered as Income . But transfer from other bank can be questionable and if no satisfactory answer is provided than it can be considered as Income. Any of such transactions must be squared off .
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