Times of IndiaLean R·
Supreme Court la ys down ITR norms for fixing accident damages
The Supreme Court has mandated distinct methods for calculating road accident compensation, acknowledging the income disparity between salaried individuals and the self-employed. For salaried persons, the previous year's income tax return will be the benchmark. Self-employed individuals' compensation will be based on the average of their last three years' income tax returns, accounting for income fluctuations. This ruling aims to standardize compensation assessments across high courts.
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