Tax exemption for income received on behalf of a charitable institution, conditional on application, investment, audit, and filing requirements. Income received by any person on behalf of St. Mary's Educational and Social Welfare Society shall not be included in the recipient's total income under Section 10(23C)(iv), provided the Institution applies or accumulates income exclusively for its objects (with limited accumulation), confines investments to modes under section 11(5), treats business income as taxable unless incidental and separately accounted, files returns, transfers surplus on dissolution to similar bodies, and furnishes an accountant's audit report with its return. The notification applies only to such receipts and is effective from the 2006-07 assessment year onwards, subject to rescission for non-genuine or non-compliant activities.