Gift received in cash from specified relative is exempt from tax u/s 56

If cash received from any person other than specified relative above Rs. 50000, then it will be taxable.

Specified relative:

• spouse of the individual;
• brother or sister of the individual;
• brother or sister of the spouse of the individual; 
• brother or sister of either of the parents of the individual;
• any lineal ascendant or descendant of the individual;
• any lineal ascendant or descendant of the spouse of the individual;
• spouse of the person referred to in clauses (ii) to (vi)