10896 : Notification: 10896 Date of Issue: 6/5/1999

Notification: 10896 Date of Issue: 6/5/1999

Notification: 10896

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 M/s Synergy Mortgage Loan Company Limited 3011 and 3014 High Point III, 25 Palace Road, Bangalore has been approved by the Central Government for the purposes of section 36(1)(viii) of the Income-tax Act, 1961, for the assessment years 1999-99 and 1999-2000.

2. The approval is subject to the condition that :

(i) the company has main object of 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.

[F. No. 204/4/96-ITA-II]