New Okhla Industrial Development Authority tax exemption covers grants, land proceeds, rents, interest, and fees subject to conditions. Notification designates New Okhla Industrial Development Authority as exempt under clause (46) of section 10 for specified income: State grants; disposal proceeds of land, buildings and other properties; rental receipts; interest and dividend; and fees, tolls and charges under the Uttar Pradesh Industrial Area Development Act, 1976. The exemption is subject to conditions: no commercial activity, unchanged activities and income nature across the relevant financial years, and filing returns under clause (g) of sub-section (4C) of section 139. The notification is applied retrospectively to specified assessment and financial years.