Notification: S. O. 1124
Section(s) Referred: s. 36(1)(viii) ,s. 139(1)
Statute: INCOME TAX
Date of Issue: 12/4/1999
It is notified for general information that persons listed at para 3 below have been approved by the Central Government for the purposes of section 36(1)(viii) of the Income-tax Act, 1961, for the assessment years mentioned against them.
2. The approval is subject to the condition that:
(i) the company has been main object to 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.
3. The persons approved are:
(a) Tamilnadu Urban Finance and Infrastructure, Chennai (assessment years 1997-98, 1998-99 and 1999-2000) (F. No. 204/25/94/ITA-II) ;
(b) Co-op. Bank Homes Ltd., Bangalore (assessment years 1998-99 and 1999-2000) (F. No. 204/23/98/ITA-II) ;
(c) GIC Housing Finance Ltd., Mumbai (assessment years 1999-2000 and 2000-2001) (F. No. 204/19/98/ITA-II) ;
(d) Weizmann Homes Ltd., Bangalore (assessment year 1999-2000) (F. No. 204/1/99/ITA-II).
[Notification No. 10869/F. No. 204/1/99/ITA-II]