My younger brother wants to give me Cash gift of Rs. 49000.00. He is in the 30% Tax Bracket and I am in 5% tax Bracket. 1. So will this Gift attract any kind of Tax? 2. Can he gift me this amount by investing in any Liquid/mutual Fund/ Fixed Deposit in my name? 3. In the 2nd case who will be liable for the tax on Returns from such investments?