Tax exemption approval for an educational institution subject to income application, permitted investments, recordkeeping and dissolution rules. Approval is granted to an educational institution for tax-exempt status for the assessment year onward, conditioned on exclusive application or accumulation of income for its objects, permitted modes of investment, exclusion of non-incidental business income unless separately accounted, regular filing of income-tax returns, transfer of surplus and assets on dissolution to a similar charitable organization, and non-application to anonymous donations under the specified proviso.