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What is the Limit for transferring money between bank accounts of the same owner?

  • Thread starter Thread starter gobsy
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gobsy

TF Premier
Hi. I have four bank accounts(savings) . What is the limit of maximum number of time I can transfer money between any two of these accounts through by adding as beneficiary and also is there any limit of the transaction value (say 10-15l). Does it incurr any taxes if I regularly transfer money between my bank account?
 
Hi. I have four bank accounts(savings) . What is the limit of maximum number of time I can transfer money between any two of these accounts through by adding as beneficiary and also is there any limit of the transaction value (say 10-15l). Does it incurr any taxes if I regularly transfer money between my bank account?
You can transfer money within your accounts as many times you want. It's the same money being circulated, so you won't be paying any additional taxes.
 
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