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Notification: 10895
Section(s) Referred: s. 36(1)(viii) ,s. 139(1)
Statute: INCOME TAX
Date of Issue: 6/5/1999
It is notified for general information that M/s PNB Housing Finance Limited, 9th floor, Antriksh Bhavan, 22, Kasturba Gandhi Marg, New Delhi—110 001 has been approved by the Central Government for the purposes of section 36(1)(viii) of the Income-tax Act, 1961, for the assessment year 1999-2000.
2. The approval is subject to the condition that :
(i) the company has main object of carrying on the business of providing long-term finance for construction or purchase of houses for residential purposes;
(ii) the company submits every year a copy of its audited profit and loss account and balance sheet along with a statement of deduction claimed under this section before its due date for filing return of income under section 139(1) of the Income-tax Act, 1961 ;
(iii) special reserve as required is created and maintained as per the Act; and
(iv) all other conditions contained in section 36(1)(viii) of the Income-tax Act, 1961, are fulfilled. [F. No. 204/16/97-ITA-II]
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