Rule – 100, Conditions regarding trustees

100. (1) The trust shall have at least two trustees provided that a company³³ [as defined in clause (i) of sub-section (1) of section 3 of the Companies Act, 1956 (1 of 1956)] shall not be appointed as a trustee without the prior approval of the ³⁴[Chief Commissioner or Commissioner].

(2) The trustees of the fund shall be resident in India and any trustee who leaves India permanently shall vacate his office.

Reference: www.incometaxindia.gov.in