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<h1>Development Authority designated u/s 10(46A) for specified income tax exemption, conditional on statutory constitution and purposes effective AY2024-25</h1> The notification notifies Agra Development Authority as an authority for the purposes of clause (46A) of section 10 of the Income-tax Act, 1961, thereby exempting specified income falling within that clause; operative effect: specified income of the Authority is exempt from tax under section 10(46A) from assessment year 2024-25. It conditions the exemption on the Authority continuing to be constituted under the Uttar Pradesh Urban Planning & Development Act, 1973 and carrying one or more purposes listed in sub-clause (a) of clause (46A); operative effect: loss of that status or purposes will terminate entitlement to the exemption. The notification is issued by CBDT.