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Vishal (CA Final.) (77 Points)
Replied 16 July 2010

Dude its totally exempt... So enjoy with the money.....

(Guest)

full amt. will be exempted

Darpan aggarwal (Article assitiant) (141 Points)
Replied 16 July 2010

GIFT RECEIVED IN MARRAIGE IS FULLY EXEMPT FROM TAX

IF IT RECEIVED FROM THEIR RELATIVES.

SO, IN YOUR CASE IT IS RECEIVED FROM YOUR FATHER IN LAW.

SO, IT IS FULLY EXEMPT.

THANKS AND REGARDS

DARPAN

Arjit Singhal (Ca Final (New) Article Assistant Student ) (107 Points)
Replied 16 July 2010

Its true that gift received on marriage is exempt

but there should be true source of that gift....

as in ur case if his father in law have such balance (Rs. 400000/-) available as per his income tax returns of last year

and current year

if one couldn't satisfy the source to AO

then he may impose penalty u/s 69 ...............

kapil ((@ FINAL) (119 Points)
Replied 16 July 2010

EXEMPT

Amit Gupta (Loosening Myself) (1508 Points)
Replied 16 July 2010

Originally posted by : santhosh
	Ya above answers are correct.... It is fully Exempt as it was got on the occasion of marriage....

FULLY EXEMPT

Reena Verma (CA Finalist) (417 Points)
Replied 18 July 2010

EXEMPTED

NARENDER PAWAR (CA final Student) (337 Points)
Replied 20 July 2010

entire amount received on the ocasion of marrige exempt form income tax.

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