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<h1>Income Tax Exemption Granted to Urban Development Authority Under Section 10(46A)(b) from AY 2024-25</h1> The Central Government, under section 10(46A)(b) of the Income-tax Act, 1961, has exempted a specified urban development authority constituted under the Uttar Pradesh Urban Planning & Development Act, 1973, from certain income tax provisions. This exemption applies from the assessment year 2024-2025, conditional on the authority maintaining its status and purposes as outlined in the relevant section of the Income-tax Act. The notification confirms that no individual or entity is adversely impacted by the retrospective application of this exemption.