As per Schedule for compensation for third party fatal accidents under Section 163A of the Motor Vehicles Act, 1988 the amount of compensation arrived at, in consideration of the expenses, which a victim would have incurred towards maintaining himself, had he been alive, shall be reduced by:
Verified Answer
A. 1/2
B. 1/3
C. 1/4
D. 1/8
Explanation:
As per the Second Schedule of the Motor Vehicles Act, 1988, for calculating compensation in fatal accident cases, a deduction is made for the personal and living expenses of the deceased. This deduction is typically 1/3rd of the income if the deceased was married and had dependents, and 1/2 if the deceased was a bachelor. In the absence of specific details, 1/3rd is a commonly applied deduction for a person with dependents.