Income Tax Exemption for Urban Development Authority Under Section 10(46A) from AY 2024-25 Onward

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....The government has exempted a specified urban development authority from certain income tax provisions under section 10(46A) of the Income-tax Act, 1961, effective from the assessment year 2024-2025. This exemption applies provided the authority continues to be constituted under the relevant state urban planning legislation and fulfills the purposes outlined in the Act. The notification confirms no adverse impact on any person due to its retrospective effect.....