Approved Home Trust Housing Finance Company Ltd., Calcutta u/s 36(1)(viii) - 523 - Income Tax

Approved Home Trust Housing Finance Company Ltd., Calcutta u/s 36(1)(viii) NOTIFICATION NO. 523 DATED 11-2-1999 It is notified for general information that "Home Trust Housing Finance Company Ltd., Calcutta", has been approved by the Central Government for the purposes of section 36(1)( viii ) of the Income-tax Act, 1961, for the assessment years 1999-2000 to 2001-2002. 2. The approval is subject to the condition that : ( i ) the company has the main object on carrying on the business of providing long-term finance for construction or purchase of houses for residential purposes during the whole period for which this approval is granted ; ( 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 under 36(1)( viii ) of the Income-tax Act, 1961, is created and maintained ; and ( iv ) all other conditions contained in section 36(1)( viii ) of the Incometax Act, 1961 are fulfilled. [Notification No. 10785/F. No. 204/17/98-ITA-II]