Approved Andhra Bank Housing Finance Ltd., Hyderabad u/s 36(1)(iii) - 922 - Income Tax

Approved Andhra Bank Housing Finance Ltd., Hyderabad u/s 36(1)(iii) NOTIFICATION NO. 922 DATED 24-3-1999 It is notified for general information that Andhra Bank Housing Finance Ltd., 1st Floor, United India Insurance Building, Basheerbagh, Hyderabad-500029, 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 1998-99 and 1999-2000. 2. The approval is subject to the condition that: ( i ) the company has the 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 profits 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. [Notification No. 10835/F. No. 204/17/97-ITA-II]