Gift received from In laws in Money ..Whether taxable or not in Ay 2018-19

The gift received by individual on the occasion of marriage is not taxable even if received by non relative as per section 56(2)(vii) ..
therefore the 3 lakhs are not taxable ...
and kindly elaborate your query related to amount transfer from wife's account as to where and when ..

if gift or money as gift received from “Relative” then it is not chargeable to tax. In Law is covered in defination of relatives. So money received from In law of Rs. 300000/- is not taxable.
Clubbing provision will applicable on money transfer by wife. Any income generated by investing this money will be clubbed in wife income.

Money transfer from wife'a/c to husband's a/c amounting 4lac after Marriage..After that FD was created out of it in Ay19-20 ..

Also money from in laws was transferred couple of months after marriage..

Originally posted by : Ishatpreet Singh
	Money transfer from wife'a/c to husband's a/c amounting 4lac after Marriage..After that FD was created out of it in Ay19-20 ..Also money from in laws was transferred couple of months after marriage..

(1) Interest/income generated out of the money (4 lacs) gifted by  wife  will be clubbded with your wife`s income .
(2) As in laws gifted  after marriage so no tax issue with that amount...no tax liability for the assesse . 

So No tax liability for any amount in Ay 18-19..Only interest Income in At 19-20 will be clubbed with spouse income.