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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Amount transfer from Saving account
Replies (9)
There won't be any issue..Mere transfer is not income .
Income Tax liability will be on the Income and not every credit
Income Tax liability will be on the Income and not every credit
Transfer for rendering service from the recipient is income.
@ Naveen ,
Are the two accounts belongs to same person?
Are the two accounts belongs to same person?
Yes Sir, both saving account belong to same person. one account in HDFC and second is Punjab and sind bank
There is no question of rendering service .. Not every credit in savings account is income
Sir, that,s means I need to show in my ITR again actually i already shown in my previous year ITR
No .It is required to show in ITR if it's already shown in ITR.
Moreover mere transfer is not income
Moreover mere transfer is not income
Thank you very much Eswar Reddy Sir,
Not required to show again in ITR
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