Exemptions under income tax law expanded to include IFSC fund references, offshore derivative distributions and Agniveer corpus payments. Amendments to section 10 expand exclusions from total income by: referencing IFSC Fund Management Regulations for specified funds; treating certain non-resident income from offshore derivative transfers and distributions with qualifying IFSC offshore banking units as excluded (subject to taxability limits in the offshore unit); tightening life insurance premium based exclusions for non unit linked policies; exempting Agniveer Corpus Fund payments; revising approval, proviso and reporting rules for charitable/educational/medical institution exemptions and inserting a new exemption for notified public bodies under a new clause (46A).