Tax exemption for donations on behalf of charitable institution subject to specified application, investment, audit and dissolution conditions. Any income received by any person on behalf of City Mission of India, CMI Children's Home, Dahisar, Mumbai, shall not be included in such person's total income provided the Institution applies or accumulates its income wholly and exclusively for its objects (with limited accumulations), invests or deposits funds only in permitted modes, restricts exempt treatment for business income to incidental activities with separate books, files income-tax returns regularly, obtains and furnishes a prescribed audit report, and on dissolution transfers surplus and assets to an organization with similar objectives.