Gift Tax Planning -An insight to Tax Planning your Gifts

No Tax benefits arise in gifting to your Spouse or minor children or daughter-in-law as income will be clubbed in the hands of the donor.
On gifting to others, being relatives as defined under the IT. Act, the income arising therefrom shall not be clubbed under your hands.
You may accept cross gifts upto Rs. 50,000 in favour of Yourselves, your Spouse & Minor Children from Non-relatives.
Premarital Transfers: Gift to the fiancee before the marriage will not attract the clubbing provisions. The relationship of husband and wife must subsist not only at the time of the accrual of income from the gifted asset but also when the transfer of the assets is made. Similarly, gift may be made by father-in-law/mother-in-law to the prospective daughter-in-law.

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