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of <h1>Amendments to Income-tax Act: Changes in Debt Deduction Criteria and Infrastructure Facility Definition Under Section 36</h1> The Finance Act, 1997 amends section 36 of the Income-tax Act. In sub-section (1), clause (vii) changes the reference from 'a bank' to 'an assessee,' effective from April 1, 1992. Clause (viii) modifies the wording to 'special reserve created and maintained,' effective from April 1, 1998, and redefines 'infrastructure facility' as per section 10 clause (23G). In sub-section (2), clause (v) stipulates that deductions for debts related to advances under clause (viia) are only permissible if the debt is debited to the provision for bad and doubtful debts account, effective from April 1, 1992.
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