• Gift money to my children and grandchildren

can i gift money to my son in law, daughter after their marriage
can i gift money to my daughter's children

can i gift money to my daughter in law and their children
if i gift certain amount by chq to my son n law at the time of marriage 
what are the tax implications

thnx

dr umesh
Asked 1 year ago in Taxation from Dombivli, Maharashtra
Gifts received by son-in-law from the wife's parents are taxable as this relation does not come under the specified close relatives in the income tax act. Following is the list of relations which are considered as “relatives” for the purpose of exemption from gift for any amount:-
1. Your spouse
2. Your brother or sister
3. Brother or sister of your spouse
4.Brother or sister of either of your parents
5.Any of your lineal ascendants or descendants
6.Any lineal ascendant or descendant of your spouse
7.Spouse of the persons referred  in above points

Gifts received in marriage by son in law from parents in law are taxable as it does not  fall in the exempted category. However gifts received by daughter in law from parents in law are exempt from tax. 

Shaveta Chaudhary (Sanghi)
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