Tax exemption under Section 10(23C)(iv): notification grants conditional charitable status subject to investment, business and dissolution rules Notification designates The Society for Afro-Asian Association of Petroleum Geochemicals, New Delhi as entitled to tax exemption under clause (23C)(iv) of section 10 subject to conditions: apply income wholly to objects; restrict investments to permitted modes (except certain voluntary contributions); exclude business profits unless incidental with separate books; regular filing of returns; and on dissolution transfer surplus assets to a similar charitable organization.