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Amount transfer from Saving account

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729 Points Posted on 15 March 2022
Dear Sir,

Can we transfer by cheque or netbanking amount from one saving account to 2nd or 3rd account any issues from IT department
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On 15 March 2022 at 14:59 Report
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CFO- at NHTF
58280 Points Posted on 15 March 2022
There won't be any issue..Mere transfer is not income .

Income Tax liability will be on the Income and not every credit
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On 15 March 2022 at 20:12
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Profession Business
28207 Points Posted on 16 March 2022
Transfer for rendering service from the recipient is income.
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On 16 March 2022 at 18:17
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CFO- at NHTF
58280 Points Posted on 16 March 2022
@ Naveen ,

Are the two accounts belongs to same person?
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On 16 March 2022 at 18:53
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729 Points Posted on 16 March 2022
Yes Sir, both saving account belong to same person. one account in HDFC and second is Punjab and sind bank
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On 16 March 2022 at 19:01
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CFO- at NHTF
58280 Points Posted on 16 March 2022
There is no question of rendering service .. Not every credit in savings account is income
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On 16 March 2022 at 19:03
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729 Points Posted on 16 March 2022
Sir, that,s means I need to show in my ITR again actually i already shown in my previous year ITR
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On 16 March 2022 at 21:42
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CFO- at NHTF
58280 Points Posted on 16 March 2022
No .It is required to show in ITR if it's already shown in ITR.

Moreover mere transfer is not income
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On 16 March 2022 at 21:45
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729 Points Posted on 17 March 2022
Thank you very much Eswar Reddy Sir,
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On 17 March 2022 at 13:53
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CFO- at NHTF
58280 Points Posted on 17 March 2022
Not required to show again in ITR
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On 17 March 2022 at 14:44


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