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<h1>Central Government exempts development authority under UP Urban Planning Act under section 10(46A)(b) Income-tax Act from tax from AY 2024-25</h1> The Central Government notifies a development authority constituted under the Uttar Pradesh Urban Planning and Development Act, 1973 as covered by sub-clause (b) of clause (46A) of section 10 of the Income-tax Act, 1961, granting specified income exemption with effect from assessment year 2024-25, conditional on the authority continuing to exist under that Act and carrying one or more purposes specified in sub-clause (a) of clause (46A). The notification is given retrospective effect and is certified not to adversely affect any person.