Tax approval for housing finance deduction granted, subject to annual audited filings and maintenance of a special reserve. Central Government approval was granted to Grahsaukhya Housing Development Finance Limited for purposes of section 36(1)(viii) of the Income tax Act for assessment years 1996-97 to 1999-2000, subject to conditions: main object of providing long term residential housing finance; annual submission of audited profit and loss account and balance sheet with a statement of deduction before the due date for filing returns; creation and maintenance of the required special reserve; and fulfillment of all other statutory conditions under section 36(1)(viii).
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Tax approval for housing finance deduction granted, subject to annual audited filings and maintenance of a special reserve.
Central Government approval was granted to Grahsaukhya Housing Development Finance Limited for purposes of section 36(1)(viii) of the Income tax Act for assessment years 1996-97 to 1999-2000, subject to conditions: main object of providing long term residential housing finance; annual submission of audited profit and loss account and balance sheet with a statement of deduction before the due date for filing returns; creation and maintenance of the required special reserve; and fulfillment of all other statutory conditions under section 36(1)(viii).
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