TMI BlogSection 36(1)(viii) - Transfer to Special ReserveX X X X Extracts X X X X X X X X Extracts X X X X ..... ion which is a public sector company (PFC, REC, TFC, etc.) A housing finance company engaged in business of providing long term finance for construction of purchase of houses in India for residential purposes. Any other Financial corporation including a public company engaged in the business of providing long term finance for development of infrastructure facility in India. Banking Company includi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t withdrawn from reserve shall be taxable as PGBP. Further, where the amount is withdrawn in the year in which business is not in existence, the provisions of this section shall apply as if the business is in existence for that year. Provisions regarding creation of deferred tax If Provision created u/s 36(1)(viii) , is the same as being deducted in taxable income, there is no need to create defer ..... X X X X Extracts X X X X X X X X Extracts X X X X
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