Gift tax on flat received from ralative

prabhu (individual) (32 Points)

27 August 2013  

I am receiving Flat (immovable property) from my cousin without any consideration, whether gift tax i have to pay . my family tree is as below

                         Murari                         

Dadaji                                         Kashinath 

Murari                                         Mangesh

So  Murari is giving Flat to Mangesh, whether gift tax Mangesh should pay.