09 March 2016
As per Section 56 (2)(vii) "relative" means,— (i) in case of an individual— (A) spouse of the individual; (B) brother or sister of the individual; (C) brother or sister of the spouse of the individual; (D) brother or sister of either of the parents of the individual; (E) any lineal ascendant or descendant of the individual; (F) any lineal ascendant or descendant of the spouse of the individual; (G) spouse of the person referred to in items (B) to (F); (ii) in case of a Hindu undivided family, any member thereof So, maternal grand parents does not comes under defination of relatives, hence gift received from them would be taxable if value of the gift exceed Rs. 50,000/- in a year.
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