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of <h1>Income-Tax Act Section 11 Amended: New Rules on Depreciation and Income for Trusts with Section 12AA Registration</h1> Section 11 of the Income-tax Act is amended to include two new sub-sections effective from April 1, 2015. Sub-section (6) specifies that income required to be applied or accumulated shall be calculated without deductions for depreciation if the asset's acquisition was claimed as an income application in the same or a previous year. Sub-section (7) states that for trusts or institutions with valid registration under section 12AA or previously under section 12A, income derived from property held under trust will not be excluded from the total income under section 10, except for clauses (1) and (23C).
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