Rule – 84, Conditions regarding trustees

84. (1) The trust shall have at least two trustees, provided that a company [as defined in clause (i) of sub-section (1) of section 313 of the Companies Act, 1956 (1 of 1956)] shall not be appointed as a trustee without the prior approval of the 14[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