Gift received form relative

No dear, it's fully exempt u/s-56(2)(vii), as any amount received as gift from relative is exempt & father's brother, whether younger or elder, covers under definition of relative for the purpose of sec-56(2)(vii)...

Hope ur doubt is cleared now...

Hello , As per Income tax Gift received from relative is expempted.

Relatives means

– Spouse of Individual

– Brother & Sister of Individual

– Brother & Sister of Spouse of Individual

– Brother & Sister of either of the parents of Individual (Father's brother covered here)

– Any Lineal ascendants or descendants of the individual

-Any Lineal ascendants or descendants of the spouse of the individual.

@ Vishal Goel: Please carefully read my answer..I have written the same thing & there is no contradiction... 

As per the INCOME TAX ACT, Gift from RELATIVE is fully EXEMPT at all.

Here, 

Brother & Sister of either of the parents of Individual  are covered in this category.

Father's brother ; is covered under relative. 

So fully exempt from the taxable amount.
 

Hello, 
Agree with ** Stranger **