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All existing trust deeds of NGOS referres to investments to be made in compliance of section 13 of income tax 1961 and also about 80G of the said Act. Is it necessary to amend the trust deed so as to refer to section 350 of income tax act 2025. If yes, even for such consequential change do we need commissioner'sprior approval.
Amendment of Existing Trust Deeds
Ethirajan Parthasarathy
Trust deed amendment for updated tax references and Commissioner approval for consequential changes. A query concerns whether existing NGO trust deeds, which refer to investments made in compliance with section 13 and section 80G of the Income-tax Act, 1961, must be amended to refer to section 350 of the Income Tax Act, 2025. It also asks whether a consequential amendment of this kind would require the Commissioner's prior approval. The issue is presented as a trust deed compliance and drafting question. (AI Summary)