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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
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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.
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