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of <h1>Trust Taxation Rules Tightened: Substantial Contributors Now Defined as Those Giving 1 Lakh in a Year or 10 Lakh Total</h1> The Finance Act, 2025 amends section 13(3) of the Income-tax Act in three ways. First, it substitutes clause (b) to define a substantial contributor as any person whose contribution exceeds one lakh rupees in the relevant previous year, or ten lakh rupees in aggregate up to the end of that year. Second, it removes the word 'person' from clause (d). Third, it removes the reference '(b)' from clause (e). These amendments modify the criteria for determining substantial interest in trusts or institutions for taxation purposes.
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