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<h1>Definition of Substantial Interest: 20% Equity or Profits for Income Tax on Charitable or Religious Trusts</h1> A person is considered to have a substantial interest in a concern if, during the previous year, they hold at least 20% of the equity share capital in the case of a company or are entitled to at least 20% of the profits in any other type of concern. This definition is relevant for understanding income tax implications for charitable or religious trusts.