https://www.taxtmi.com/news?id=72099 Form No. 127 is a buyer's declaration under section 394(2) of the Income-tax Act, 2025 for obtaining specified goods without collection of tax at source. A resident buyer may furnish the declaration to the seller where the goods are intended for manufacturing, processing, producing articles or things, or generating power, and not for trading. PAN is mandatory, the declaration must be furnished on or before the date of transaction, and once received the seller must report the particulars and include the transactions in the quarterly TCS statement. en-us Thu, 02 Apr 2026 10:13:18 +0530 Thu, 02 Apr 2026 10:13:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=72099 Form No. 127 is a buyer's declaration under section 394(2) of the Income-tax Act, 2025 for obtaining specified goods without collection of tax at source. A resident buyer may furnish the declaration to the seller where the goods are intended for manufacturing, processing, producing articles or things, or generating power, and not for trading. PAN is mandatory, the declaration must be furnished on or before the date of transaction, and once received the seller must report the particulars and include the transactions in the quarterly TCS statement. News - Thu, 02 Apr 2026 10:13:18 +0530 https://www.taxtmi.com/news?id=72099