We’re building a list of related persons for our trust. Who counts as a ‘related person’ under Section 355(h)?
It’s a set list of categories in the law. The list includes:
- the author or founder
- a qualifying substantial contributor
- specified HUF members
- trustees or managers
- specified relatives
- specified concerns in which the covered persons have a substantial interest
Stick to the exact statutory categories when you build your list.
Source: Income-tax Act, 2025 - section 355(h).