Approval under section 36(1)(viii) grants tax recognition to a housing finance company subject to specified compliance. Approval is granted to LIC Housing Finance Limited under section 36(1)(viii) to qualify as a housing finance company for tax deduction purposes, subject to conditions: principal object of long-term residential housing finance; annual submission of audited accounts and a statement of the deduction before the return filing due date; creation and maintenance of the required special reserve; and fulfillment of all other statutory conditions.