https://www.taxtmi.com/news?id=1197 The Motor Vehicles Act's structured formula under Section 163A and the Second Schedule prescribes age-linked multipliers and a notional-income rule for non-earning persons; tribunals must ascertain age and income, deduct personal living expenses, and apply the multiplier method. Gratuitous services of a housewife/mother merit a broad valuation distinct from paid domestic labour; where no regular income exists, clause (6) of the Second Schedule provides a reasonable notional income to compute annual dependency, subject to standardised additions for future prospects and deductions for personal expenses. en-us Mon, 26 Jul 2010 02:55:04 +0530 Mon, 26 Jul 2010 02:55:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=1197 The Motor Vehicles Act's structured formula under Section 163A and the Second Schedule prescribes age-linked multipliers and a notional-income rule for non-earning persons; tribunals must ascertain age and income, deduct personal living expenses, and apply the multiplier method. Gratuitous services of a housewife/mother merit a broad valuation distinct from paid domestic labour; where no regular income exists, clause (6) of the Second Schedule provides a reasonable notional income to compute annual dependency, subject to standardised additions for future prospects and deductions for personal expenses. News - Mon, 26 Jul 2010 02:55:04 +0530 https://www.taxtmi.com/news?id=1197