Tax exemption for income received on behalf of an institution contingent on compliance with application, investment and audit conditions. Notification grants tax exemption for income received by any person on behalf of India International Centre subject to conditions: apply or accumulate income solely for institutional objects with accumulation beyond fifteen percent limited to five years; restrict investments to forms permitted for charitable trusts; exclude business receipts unless incidental with separate books; require regular income tax return filing, an accountant's audit with prescribed report, and transfer of surplus and assets to a similar organization on dissolution; applicable to recipients only from assessment year 2006 07 onward.