Transferring money to another account

Transferring some amount from my own saving account through cheque to my another saving account will be calculated as my income or not
Asked 1 year ago in Income Tax from New Delhi, Delhi
No. There is no generation of income by transferring from one bank account to another bank account.
B Vijaya Kumar
CA, Hyderabad
506 Answers
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Transfer of amount from one account to another account of same person will not attract any Tax liability.
Shyam Sunder Modani
CA, Hyderabad
1277 Answers
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No
Vijay N. Kale
CA, Hyderabad
248 Answers
4.9 on 5.0
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