CBDT Notifies Income Tax Exemption for New Okhla Industrial Development Authority

The CBDT (Central Board of Direct Taxes) has notified income tax exemption for the New Okhla Industrial Development Authority (NOIDA) under Section 10(46A) of the Income Tax Act, 1961. This significant relief, applicable from AY 2024-25, exempts specific income sources of NOIDA, such as amounts from the State Government, disposal of assets, fees, charges, rent from allottees, interest income, and other income from its statutory functions. This move aims to support NOIDA's urban development and infrastructure projects, reflecting the government's strategic tax policy to strengthen public utility bodies involved in creating public goods and services.