Tax exemption for income received on behalf of a charitable institution, subject to application, investment, audit and reporting conditions. Notification excludes from a recipient's total income any income received on behalf of the specified charitable institution under section 10(23C)(v), subject to conditions: application or limited accumulation of income, permitted modes of investment, business profits only if incidental with separate accounts, regular filing of returns, mandated audit and prescribed audit report, and transfer of surplus on dissolution to similar organizations; applicable to recipients only for assessment year 1994-95 onwards and rescindable if conditions are not met.