Approved Cent Bank Home Finance Ltd., Bhopal u/s 36(1)(iii) - S. O. 1125 - Income Tax

Approved Cent Bank Home Finance Ltd., Bhopal u/s 36(1)(iii) NOTIFICATION NO. S. O. 1125 DATED 16-4-1999 It is notified for general information that Cent Bank Home Finance Ltd., Bhopal, 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 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 30(1)( viii ) of the Income-tax Act, 1961, are fulfilled. [Notification No. 10876/F. No. 204/19/98-ITA-II]