Approval under section 10(23C)(vi) grants tax-exempt status subject to compliance, restricted investments, audit and dissolution rules. Approval under section 10(23C)(vi) is granted to St. Joan's Educational Trust from assessment year 2009-2010 subject to compliance with clause (23C)(vi) read with rule 2CA. The trust must apply or accumulate income solely for educational objects with limited accumulation, invest or deposit funds only in forms specified by section 11(5) (excluding certain voluntary contributions), and exclusion applies to income from trade or business activities. The trust must obtain statutory audit and file returns with audit report; on dissolution surplus must transfer to a non-profit educational organization; anonymous donations are excluded and approval is liable to be withdrawn for non-genuine or non-compliant activities.