Income-tax Rules, 2026

Rule 302Conditions regarding trust and trustees

Income-tax Rules, 2026 · G.S.R. 198(E), dated 20-03-2026

(1)The fund and the trust shall be established in India.

(2)The trust shall have at least two trustees, provided that a company as defined in section 2(20) of the Companies Act, 2013 (18 of 2013) shall not be appointed as a trustee without the prior approval of the approving authority.

(3)The trustees of the fund shall be a resident in India and any trustee who leaves India permanently shall vacate his office.

Referenced by

Rule 301 Definitions for purposes of rules 302 to 315