Hi,

Actually the rules differ from state to state but technically it is allowed but with certain guidelines from the authorities. Let me know your state and I may be able to give you a precise answer. For eg in Maharashtra the guidelines are

Candidates have to apply in writing to the principal.
No transfer will be allowed from Unaided Institutions to Government or Government Aided Institutions. No transfers to Autonomous Institutions will be allowed.
Any transfer is based on seat availability in the chosen college and candidates must also have a No Objection Certificate(NOC) from institution which they are currently studying, Eligibility Certificate from MSBTE and Vaccancy positon.