Cash gift from relatives

no it wont be taxable as gifts from relative is not at all taxable..

lineal means in a straight line...u need to see the hierarchy..

ascendants are the ones elder to u....means, father, mother, their parents and their parents. and so on.

descendants- son,daughter,their spouse, and so on...

it will not be taxable                                            

It will not be taxable.

Lineal ascendent - Person of the same blood lineage belonging to an earlier generation.

Lineal descendent - Person of the same blood lineage belonging to a latter generation.

gift receive from relative not taxable

Good answer from Sunshine

Originally posted by : Deepesh
	It will not be taxable.   Lineal ascendent - Person of the same blood lineage belonging to an earlier generation.   Lineal descendent - Person of the same blood lineage belonging to a latter generation.

Agree...

Originally posted by : Sunshine...
	lineal means in a straight line...u need to see the hierarchy.. ascendants are the ones elder to u....means, father, mother, their parents and their parents. and so on.   descendants- son,daughter,their spouse, and so on...

AGREED.

not taxable

not taxable

After 01 October 2009 sec 56(2) (vi) is obsolete and sec 56 (2) (vii) is applicable after 01 October 2009.

And as per the section cash gift from son not taxable upto any amount. 

gift received from blood relatives are always fully excempted

hello friends... i recently read in a tribune newspaper dat in a gift transaction, both donor n donee r exempt from tax .... i m not sure in wat context hv they talked about the donor,.... money dat is given by donor to his relative is clubbed in doner's income ..... so how can be donor exempt from tax ?????????...... please clarify..............soooooooon