Approval under section 36(1)(viii) permits tax treatment for a housing finance company subject to statutory compliance. Approval is granted to Vidarbha Housing Development Finance Company Limited under section 36(1)(viii) of the Income-tax Act by Notification S.O.1408 dated 31-5-1994, subject to the condition that the company conform to and comply with the provisions of section 36(1)(viii) to retain approved status.