TMI BlogTrading or ManufacturingX X X X Extracts X X X X X X X X Extracts X X X X ..... Dear All My client is a LLP (Say X) and brand owner of a bumper item. It has owned some moulds related to bumper manufacturing. Due to lower space, it has provided moulds to a sister concern (say Y) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on delivery challan for manufacturing of bumpers with the following facts: - Y itself procures raw material for the manufacture of bumpers and with that raw material produces bumpers as per specific ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ation by X and sells it to X at a reduced price to give the benefit of cost of moulds provided. - X purchases the bumpers from Y and affixes few screws on it which are necessary to sell it further an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d paste its brand sticker, pack it and sells it to its customers. Now my queries are as under: 1) Since mould owner is X and it is used by Y, who is eligible for the depreciation? 2) And what will ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... be the nature of the business activity of the X to be shown and presented in financial statements like purchases from Y are semi-finished goods or complete trading goods or it can also be raw materia ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l purchase by any means? 3) Sale by X is of manufacturing sale or trading sale or any other term can be used like contract manufacturing? Regards - Trading or Manufacturing - Query Started By: - C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ABIJENDERKUMAR BANSAL Dated:- 18-11-2020 Income Tax - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmana ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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