Amendment to section 56 adds institutional receipt exemptions, covering local authorities, charitable institutions and registered trusts. The amendment adds three sub clauses to the proviso of clause (v) of sub section (2) of section 56, effective from 1 April 2005, specifying that receipts from any local authority, specified funds/foundations/universities/educational or medical institutions or other trusts covered by charitable institution provisions, and trusts or institutions registered under the statutory registration for charitable trusts, are included within the proviso's scope.