Section 56(2)

not taxable

yes it will not be taxable because son covered under list of relative and gift is not taxable if it receive from relative as per income tax act but if daughter is married then it will not cover under definition of relative

Explanation.—For the purposes of this clause, "relative" means—

[i] spouse of the individual;

[ii] brother or sister of the individual;

[iii] brother or sister of the spouse of the individual;

[iv] brother or sister of either of the parents of the individual;

[v] any lineal ascendant or descendant of the individual;

[vi] any lineal ascendant or descendant of the spouse of the individual;

[vii] spouse of the person referred to in clauses [ii] to [vi];

good clarification and information