Tax exemption amendments broaden exempt entities and refine conditions, interest definition, corpus accumulation and reporting requirements. Amendments to section 10 expand exempt entities to include State and, later, Central Government, add specific bodies (IRDA, ASOSAI Secretariat), restrict certain exemption eligibility to borrowings or loan agreements entered into before a prescribed cutoff, and narrow the scope of 'interest' for a sub-clause by excluding excessive penal delayed interest. Charitable and institutional corpus accumulation rules are tightened with a capped accumulation period for excess retained income and historic equity held as corpus is recognized; institutions exceeding a receipts threshold must publish accounts and file the published copy. Scope clarifications cover cooperative banks, infrastructure and housing projects, venture capital listing protection, and a retrospective exclusion for transfers of certain units.