The Ministry of Finance (MoF) on July 07, 2026, issued notification on Tax Exemption to NCCL Core Settlement Guarantee Fund for AY 2019–20 to 2026–27.
The Central Government has notified the Core Settlement Guarantee Fund (CSGF) set up by National Commodity Clearing Limited (NCCL) for tax exemption under Section 10(23EE) of the Income-tax Act, 1961. This notification ensures that the exemption continues for Assessment Years 2019–20 to 2026–27, despite the repeal of the 1961 Act and its replacement by the Income-tax Act, 2025. The savings provisions under the new Act allow continuation of benefits, rights, and pending proceedings under the old law.
The exemption is subject to conditions such as filing of income tax returns under Section 139(4C) and continued recognition of NCCL as a clearing corporation by SEBI. These requirements ensure regulatory compliance and continuity of eligibility for exemption.
Failure to comply with the prescribed conditions will result in withdrawal of the exemption and initiation of proceedings under the Income-tax Act, 1961.
[Notification No. S.O. 3683(E)]
