S.O. 1542 — Approval of an institution under section 36

What this is

S.O. 1542 was published on 25 May 1999. Its subject is Approval of an institution under section 36 of the Income-tax Act, 1961.

This is an approval of a named institution. It affects that institution and the people who deal with it; the years it covers are stated in it and are the whole of its reach.

The provisions it speaks to

Left, the provision of the Income-tax Act, 1961 as the instrument itself names it. Right, the section of the Income-tax Act, 2025 that the department’s own concordance maps it to — which is where the same ground is now covered.

Under the 1961 Act	Now
s.36	s.2, s.29, s.30, s.31, s.32, s.66
s.139	s.2, s.263, s.349

The instrument, as the Board published it

The words below are the department’s own, reproduced from its published text. Where the department’s copy carried a publisher’s notes after the instrument, those are not reproduced.

It is notified for general information that Manraj Housing Finance Limited, Jalagaon, has been approved by the Central Government for the section 36(1)(viii) of the Income-tax Act, 1961, for the assessment years 1997-98, 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 purpose 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. 10936/F.No. 204/33/94-ITA-II]

On the same provision

Other instruments in this library that name the same provision of the 1961 Act. They are not necessarily still operative, and a later one may have replaced an earlier one without saying so.

Circular No. 14/2023 — Standard operating procedure SOP for making application for recomputation of total income of a co operative society enga 27 July 2023
Circular No. 18/2021 — Clarification regarding section 36 1 xvii of the income tax act 1961 inserted vide finance act 2015 25 October 2021
Notification No. 1 — Income-tax (First Amendment) Rules, 2009 - Insertion of rule 40E 5 January 2009
Notification No. 56 — For the purposes of the said clause notified under section 4 11 April 2008
Circular No. 3/2008 — Explanatory Notes to the Provisions of the Finance Act, 2007 12 March 2008
Notification No. 21 — For the purposes of the said clause notified under section 3 5 February 2008

← S.O. 1543 · Notification No. 10934 →

What a notification is. A notification is made under a power the Act itself gives, and within that power it is law — unlike a circular, which only binds the department. Its reach is the reach of the enabling provision and no wider, and the date it carries decides from when it works.

Source: the Income Tax Department’s own published text — its page for this instrument.