LIC Housing Finance Ltd Approved for Tax Benefits Under Section 36(1)(viii) of Income-tax Act for 1999-2000

M/s LIC Housing Finance Limited has been approved by the Central Government for the purposes of section 36(1)(viii) of the Income-tax Act, 1961, for the assessment year 1999-2000. The approval is contingent upon the company focusing on providing long-term finance for residential housing, submitting its audited financial statements and deduction claims annually before the income tax return deadline, maintaining a special reserve as required by the Act, and fulfilling all other conditions outlined in section 36(1)(viii) of the Income-tax Act, 1961.

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