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<h1>Central notification grants tax exemption under section 10(46A) to development authority from AY 2024-25, subject to clause 46A(a) conditions</h1> A central government notification grants tax-exempt status under section 10(46A) of the Income-tax Act to a development authority constituted under the Uttar Pradesh Urban Planning and Development Act, 1973, effective from assessment year 2024-25. The exemption is conditional on the authority continuing to be constituted under that Act and carrying out one or more purposes specified in clause 46A( a) of section 10. The explanatory memorandum states the retrospective effect does not adversely affect any person.