https://www.taxtmi.com/reply=120111 Cash or property received from a relative is excluded from taxation under the proviso to section 56(2)(x) of the Income-tax Act, 1961. The term "relative" includes a lineal ascendant or descendant of the individual. Accordingly, a gift received by a grandson from a grandparent falls within the relative-based exemption framework and is not treated as taxable receipt under that provision. en-us Mon, 09 Jun 2025 11:05:54 +0530 Sat, 09 May 2026 20:16:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/reply=120111 Cash or property received from a relative is excluded from taxation under the proviso to section 56(2)(x) of the Income-tax Act, 1961. The term "relative" includes a lineal ascendant or descendant of the individual. Accordingly, a gift received by a grandson from a grandparent falls within the relative-based exemption framework and is not treated as taxable receipt under that provision. Discussion-Forum Income Tax Mon, 09 Jun 2025 11:05:54 +0530 https://www.taxtmi.com/reply=120111