Transferring money from My one account to other ( and problems associated with it)

[gurjarking911]

I did more than 50 lakh money transfer from my one bank account to another ( Like my Pnb account to Hdfc both are mine account ) for some rewards. Is there any problem like income tax . I had 50k only and I moved it between my own accounts through add money by debit card and neft IMPS
please reply
Thanks

 

[gurjarking911]

I did more than 50 lakh money transfer from my one bank account to another ( Like my Pnb account to Hdfc both are mine account ) for some rewards. Is there any problem like income tax . I had 50k only and I moved it between my own accounts through add money by debit card and neft IMPS
please reply
Thanks

 

[Wealth is my birth right!]

I did more than 50 lakh money transfer from my one bank account to another ( Like my Pnb account to Hdfc both are mine account ) for some rewards. Is there any problem like income tax . I had 50k only and I moved it between my own accounts through add money by debit card and neft IMPS
please reply
Thanks

Same pan so no issues
I mean no new money u earned its just TDS already then fine

 

[panu24]

I do not understand how one can transfer money in Bank A to Bank B using Bank A's debit card here.

 

[luciferlucifer is verified member.]

I did more than 50 lakh money transfer from my one bank account to another ( Like my Pnb account to Hdfc both are mine account ) for some rewards. Is there any problem like income tax . I had 50k only and I moved it between my own accounts through add money by debit card and neft IMPS
please reply
Thanks

Usually there is no problem in moving money on own accounts.

Did you do 50L transfer in 1 financial year?
Where/Which bank did you use debit card to transfer money?

 

[sudoabhi]

I do not understand how one can transfer money in Bank A to Bank B using Bank A's debit card here.

i am curious too

 

[SSV]

I did more than 50 lakh money transfer from my one bank account to another ( Like my Pnb account to Hdfc both are mine account ) for some rewards. Is there any problem like income tax . I had 50k only and I moved it between my own accounts through add money by debit card and neft IMPS
please reply
Thanks

Terchnically there will be no issues from ITD perspective !! dont worry.. ..

 

[D₹V]

I did more than 50 lakh money transfer from my one bank account to another ( Like my Pnb account to Hdfc both are mine account ) for some rewards. Is there any problem like income tax . I had 50k only and I moved it between my own accounts through add money by debit card and neft IMPS
please reply
Thanks

No issues.

But if you surpass 1cr transfer limit, you'll have to meet CA for audit probably.

As happened with my known, he had current account though.