Tax exemption for institutional receipts requires exclusive application of income and compliance with investment, audit, and filing conditions. Income received by any person on behalf of the Family Planning Association of India shall not be included in that person's total income, provided the institution applies or accumulates income exclusively for its objects, limits accumulation periods for amounts exceeding prescribed thresholds, confines investments to permitted forms, treats business income as non-exempt unless incidental with separate books, files returns regularly, obtains an accountant's audit and report, and transfers surplus assets on dissolution to a like-minded organization.