Trust and trustee residency conditions require Indian establishment, minimum trustees, and approval for company trustees. The fund and the trust must be established in India. The trust must have at least two trustees, and a company within the meaning of the Companies Act, 2013 cannot be appointed as a trustee without the prior approval of the approving authority. The trustees of the fund must be resident in India, and any trustee who permanently leaves India must vacate office.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Trust and trustee residency conditions require Indian establishment, minimum trustees, and approval for company trustees.
The fund and the trust must be established in India. The trust must have at least two trustees, and a company within the meaning of the Companies Act, 2013 cannot be appointed as a trustee without the prior approval of the approving authority. The trustees of the fund must be resident in India, and any trustee who permanently leaves India must vacate office.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
