RULE 302 INCOME-TAX RULES 2026
Conditions regarding trust and trustees.
302. (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.
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RULE 302 INCOME-TAX RULES 2026
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