Tax exemption for receipts on behalf of an educational institution requires exclusive application of income, restricted investments, and audit filing. Notification exempts from total income any amount received by any person on behalf of the Centre for Advanced Strategic Studies, Pune, provided the Institution applies or accumulates income exclusively for its objects subject to accumulation limits, confines investments to modes in section 11(5), treats business income as taxable unless incidental with separate books, files returns regularly, obtains and files an accountant's audit report, and on dissolution transfers surplus and assets to a like-minded organization; applicability is limited to receipts on behalf of the Institution and may be rescinded if conditions are not met.