The Ministry of Finance (MoF) on July 07, 2026, issued notification on NCCL Core Settlement Guarantee Fund for Tax Exemption.
The Central Government has notified the Core Settlement Guarantee Fund (CSGF) set up by National Commodity Clearing Limited (NCCL), a recognized clearing corporation, as eligible for tax exemption under Schedule III (Sl. No. 30) read with Section 11 of the Income-tax Act, 2025, effective from Tax Year 2026–27 onwards. The exemption applies to the specified income of the fund.
The exemption is subject to conditions such as NCCL continuing to be recognized by SEBI, mandatory filing of income tax returns, and taxation of any untaxed amounts if shared with specified persons in the year of such sharing. Non-compliance with these conditions will result in withdrawal of the exemption and initiation of proceedings under the Act.
[Notification No. S.O. 3684(E)]
