Rule 212 prescribes Form No. 127 for a buyer's declaration under section 394(2) that goods are for manufacturing, processing or producing, not trading, and requires the collector to send one copy to the Chief Commissioner or Commissioner by the 7th of the next month.
212
Rules 2026 · Rule 212
Declaration by a buyer for no collection of tax at source under section 394(2)
Rules 201-260
The declaration (sub-rules 1 and 2). A declaration under section 394(2) that goods purchased, of the kinds in section 394(1) [Table: Sl. Nos. 1 to 5], are to be used for manufacturing, processing or producing articles or things and not for trading, is in Form No. 127, verified as the form indicates, and furnished in duplicate to the person responsible for collecting tax.
Copy to the department (sub-rules 3 and 4). The collector delivers one copy to the Chief Commissioner of Income-tax or Commissioner of Income-tax on or before the 7th day of the month following the month in which the declaration is furnished. That is the Chief Commissioner or Commissioner to whom the Assessing Officer having jurisdiction over the collector is subordinate.