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

full amt. will be exempted

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

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 ............... 

EXEMPT

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

FULLY EXEMPT

EXEMPTED

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