Exemption for income received on behalf of a charitable institution, subject to application, accumulation and investment conditions. Income received by any person on behalf of Sri Ramkrishna Ashram is treated as exempt from the recipient's taxable total for the relevant assessment years, provided the Institution applies income wholly and exclusively to its objects, limits and temporally confines accumulated income, confines investments to permitted forms (excluding certain preserved voluntary contributions), maintains separate books for any incidental business, files returns as required, and directs surplus and assets on dissolution to a similar-object organization.