Quick Summary
The Tata Group, in a significant act of corporate responsibility and humanitarian support, has announced Rs 1 crore in compensation to the families of each person who lost their life in the tragic crash of Air India Flight AI171 on Thursday near Ahmedabad. The announcement comes in the wake of one of the deadliest aviation disasters in India's recent history, claiming 242 lives and drawing national and international grief. Tax Exemption on Compensation: What the Law Says Under Indian income ta
Daily Limit Reached
You have reached your daily limit of 2 Free News
Subscribe to CCI PRO for unlimited access
Why Upgrade to CCI PRO?
- No Ads
- WhatsApp Community
- Daily E-Newsletter
- Unlimited News Access
- Profile Visitors
- Link Social Profiles
- Featured Job Posts
- Pro Badge
- Expert GST Guidance
- Unlimited Forum Replies
- Download Content in PDF
1 Year PLAN
1999
(Excl. of GST ₹359)
BEST VALUE
2 Years PLAN
3499
(Excl. of GST ₹629)
3 Months PLAN
999
(Excl. of GST ₹179)
View all CCI PRO benefits
Already a PRO member? Login here for an ad-free experience.
FAQ :
The Tata Group is offering Rs 1 crore in ex-gratia compensation to the families of each person who lost their life in the Air India Flight AI171 crash.
Under Indian income tax law, ex-gratia payments made on account of death due to accidents are generally treated as capital receipts and are not taxable.
The Tata Group will cover full medical expenses for all injured passengers, support survivors and affected families through emergency response teams, and rebuild the damaged BJ Medical College hostel.
The crash claimed 242 lives, including 232 passengers and 10 crew members.
The London-bound Air India Boeing 787 Dreamliner crashed near Ahmedabad, India, shortly after taking off.
CAclubindia
