Which persons are treated as interested persons?

Ans. The following persons are categorised as 'interested persons':

a. The author of the trust or the founder of the institution;

b. Any person who has made a total contribution up to the end of the relevant previous year of an amount exceeding Rs. 50,000;

c. Where the author, founder or substantial contributor is a HUF, a member of the HUF;

d. Any trustee of the trust or manager of the institution;

e. Any relative of such author, founder, substantial contributor, member, trustee or manager as aforesaid; and

f. Any concern in which any of the persons referred to above has a substantial interest.

Relative in relation to an individual means:

a. Spouse of the individual;

b. Brother or sister (and their spouses) of the individual;

c. Brother or sister (and their spouses) of the spouse of the individual;

d. Any lineal ascendant or descendant (and their spouses) of the individual;

e. Any lineal ascendant or descendant (and their spouses) of the spouse of the individual;

f. Any lineal descendant of a brother or sister of either the individual or of the spouse of the individual.​