Is income tax levied on gifts received by a person?

Gift exceeding Rs 50,000 is taxable unless it is received from

any person who is a relative or
on occasion of marriage or
under will or by inheritance or
in contemplation of death of the payer or
money received from a local authority
money received from any fund, foundation, university, other educational /medical institution, hospital, any trust or institution referred to in section 10(23C) or from a registered charitable institute.