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of <h1>Manipal Housing Finance gains Central Government nod under Section 36(1)(viii) for 1999-2000, focusing on long-term housing finance.</h1> Manipal Housing Finance Syndicate Ltd., located in Manipal, Karnataka, has received approval from the Central Government under section 36(1)(viii) of the Income-tax Act, 1961, for the assessment year 1999-2000. This approval is contingent upon the company primarily engaging in long-term financing for residential housing construction or purchase. Additionally, the company must annually submit its audited financial statements and a statement of deductions claimed under this section before the income tax return due date. It must also create and maintain a special reserve as required, and comply with all other conditions specified in section 36(1)(viii).
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