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<h1>Uttar Pradesh Expressways Industrial Development Authority Receives Tax Exemption u/s 10(46) of Income-tax Act.</h1> The Central Government has issued Notification No. 78/2023 under Section 10(46) of the Income-tax Act, 1961, exempting the 'Uttar Pradesh Expressways Industrial Development Authority' from specified income tax. This exemption applies to income from state government grants, proceeds from property disposal, rent, fees, and interest earned. The exemption is contingent upon the Authority not engaging in commercial activities, maintaining the nature of income, and filing income returns as required. The notification is effective for the assessment year 2023-2024, covering the financial year 2022-2023, and is certified to have no adverse retrospective effects.