Approval under section 36(1)(viii) allows specified housing finance companies to claim deductions subject to compliance conditions. Central Government approval permits specified housing finance companies to claim the deduction under section 36(1)(viii) for stated assessment years, subject to conditions: primary object of providing long-term finance for residential house construction or purchase; annual submission of audited accounts and statement of deduction by the return due date; creation and maintenance of the prescribed special reserve; and fulfillment of all other statutory conditions.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Approval under section 36(1)(viii) allows specified housing finance companies to claim deductions subject to compliance conditions.
Central Government approval permits specified housing finance companies to claim the deduction under section 36(1)(viii) for stated assessment years, subject to conditions: primary object of providing long-term finance for residential house construction or purchase; annual submission of audited accounts and statement of deduction by the return due date; creation and maintenance of the prescribed special reserve; and fulfillment of all other statutory conditions.
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