Case statement in MySQL

Yes, something like this:

SELECT
    id,
    action_heading,
    CASE
        WHEN action_type = 'Income' THEN action_amount
        ELSE NULL
    END AS income_amt,
    CASE
        WHEN action_type = 'Expense' THEN action_amount
        ELSE NULL
    END AS expense_amt

FROM tbl_transaction;

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As other answers have pointed out, MySQL also has the IF() function to do this using less verbose syntax. I generally try to avoid this because it is a MySQL-specific extension to SQL that isn’t generally supported elsewhere. CASE is standard SQL and is much more portable across different database engines, and I prefer to write portable queries as much as possible, only using engine-specific extensions when the portable alternative is considerably slower or less convenient.