Notification: 11114
Section(s) Referred: s. 36(1)(viii) ,s. 139(1)
Date of Issue: 1/11/1999
It is notified for general information that M/s LIC Housing Finance Limited 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 its 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) the 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. 204/25/98-ITA.II]                                                                       

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