56(2)(x) gifts

for cash need to aggregate from all persons

for other property need to see property wise

Gifts up to Rs 50,000 in a financial year are exempt from tax. However if you receive gifts higher than this amount, the entire gift becomes taxable. For example, if you receive Rs 75,000 as a gift from your friend, the entire amount of Rs 75,000 would be added to your income and taxed at your slab rate. It would be considered ‘Income from Other Sources.’ Here, the total value of all gifts received is counted. For example, if you receive Rs 50,000 from one friend as a gift and Rs 25,000 from another friend, the limit of Rs 50,000 would be considered to be breached. The entire gift value (Rs 75,000) would be taxable in your hands.

1.Gift Any sum of money (without Consideration) – 

if the aggregate amount of money received in any previous year is more than Rs 50,000, the entire amount received shall be taxable as income from other sources.

here provision says aggregate means from all persons

2. Gift of Any immovable property–

Without Consideration: the stamp duty value of which exceeds fifty thousand rupees, the stamp duty value of such property shall be taxable as income from other source. Or,

 For a consideration which is less than the stamp duty value of the property by an amount exceeding fifty thousand rupees, the stamp duty value of such property as exceeds such consideration shall be taxable as income from other source.

here need to check property wise.

Note: My understanding.

That's okay veer