TaxTMI 
TaxTMI 
TaxTMI 
Trading or Manufacturing
X X X X Extracts X X X X
X X X X Extracts X X X X
....rading or Manufacturing<br> Query (Issue) Started By: - CABIJENDERKUMAR BANSAL Dated:- 18-11-2020 Income Tax<br>Income Tax<br>Dear All My client is a LLP (Say X) and brand owner of a bumper item. It ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....has owned some moulds related to bumper manufacturing. Due to lower space, it has provided moulds to a sister concern (say Y) on delivery challan for manufacturing of bumpers with the following facts....
X X X X Extracts X X X X
X X X X Extracts X X X X
....: - Y itself procures raw material for the manufacture of bumpers and with that raw material produces bumpers as per specification by X and sells it to X at a reduced price to give the benefit of cos....
X X X X Extracts X X X X
X X X X Extracts X X X X
....t of moulds provided. - X purchases the bumpers from Y and affixes few screws on it which are necessary to sell it further and paste its brand sticker, pack it and sells it to its customers. Now my....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... 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 be the nature of the business activity of the X to be shown and presented....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... in financial statements like purchases from Y are semi-finished goods or complete trading goods or it can also be raw material purchase by any means? 3) Sale by X is of manufacturing sale or trading....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... sale or any other term can be used like contract manufacturing? Regards<br> Discussion Forum - Knowledge Sharing ....