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Amount transfer from Saving account

276 views 9 replies
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729 Points Joined December 2021
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
Replies (9)
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CFO- at NHTF
58280 Points Joined August 2012
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
28196 Points Joined May 2017
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 Joined August 2012
@ 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 Joined December 2021
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 Joined August 2012
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 Joined December 2021
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 Joined August 2012
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 Joined December 2021
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 Joined August 2012
Not required to show again in ITR
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On 17 March 2022 at 14:44

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