Branch² Intelligence
CBDT exempts NCCL settlement fund from tax
Key takeaway
CBDT exempts NCCL's Core Settlement Guarantee Fund from income tax for AY 2019-20 to 2026-27.
- Step 1CBDT exempts NCCL's Core Settlement Guarantee Fund from income tax for 8 assessment years.
- Step 2NCCL's tax liability decreases, increasing net income and the fund's corpus, strengthening its financial position.
- Step 3Enhanced settlement guarantee capacity reduces counterparty risk in commodity derivatives clearing, boosting market confidence and trading volumes.
Source: Economic Times — Economy
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