Hi @Mohit_Manvar,
You can look into the I2S Example included in the RTD 4.0.0:

The configuration requires for the DMA module has to be initialized prior to usage in DMA mode, as well as being allocated by the application.
In interrupt mode, if mux line is enabled then user must turn on only one bit in ChannelEnable, which will be the data line to output data. Number of data buffers to be muxed is specified in ChannelCount field.
In DMA mode, if mux line is enabled then user must turn on number of bits equal to number of data buffers to be muxed. The data lines corresponding to these bits will output the same as each other.
Also in DMA mode, if a mux mode is selected, ChannelEnable must be turned on from bit 0, and immediately aboves (for example turning on bit 0 and bit 2 is not a correct configuration).
You can find some pointers for I2S FlexIO DMA transfer in this community post: S32K3 S32DS3.5 I2S demo by FlexIO with DMA - NXP Community
Best regards,
Julián