Notification:
S. O. 1373
Section(s) Referred:
s. 36(1)(viii) ,s. 139(1)
Statute:
INCOME TAX
Date of Issue:
6/5/1999
It is notified for general information that Synergy Mortgage Loan Co. Ltd.,
3011 and
3014 High Point III, 25 Palace Road, Bangalore, has been approved by the Central
Government for the purpose of section 36(1)(viii) of the Income-tax Act, 1961, for the
assessment years 1998-99 and 1999-2000.
2. The approval is subject to the condition that:
(i) the company has been main object to carrying on the business of providing
long-term
finance for construction or purchase of houses for residential purposes ;
(ii) the company submits every year a copy of its audited profit and loss
account and
balance-sheet along with a statement of deduction claimed under this section before its
due date for filing return of income under section 139(1) of the Income-tax Act, 1961 ;
(iii) special reserve as required is created and maintained as per the
Act ; and
(iv) all other conditions contained in section 36(1)(viii) of the Income-tax
Act, 1961, are
fulfilled.
[Notification No. 10896/F. No. 204/4/96-ITA-II]