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<h1>Tax exemption under section 10(23C)(iv) granted with conditions on application of income, permitted investments, accounting and dissolution.</h1> Notification under Section 10(23C)(iv) designates Yusuf Meherally Centre, Mumbai as eligible for the specified tax exemption for assessment years 2001-2002 to 2003-2004, subject to conditions: apply or accumulate income exclusively to its objects; restrict investments to modes permitted under section 11(5) (except specified voluntary contributions); exclude business income unless incidental and maintained in separate books; regularly file income tax returns; and on dissolution transfer surplus and assets to a like minded charitable organization.