Will it be wise to make investment on my name or mother's name, to save tax?

Hello,
I have question about tax applied on my earning and investments. I will be in already in 30% tax bracket as per my salary. My mother is selling her ancestral land worth 80 lac and that amount will be given to both of us brothers.
(1) Will me and my brother need to pay any tax on this, if she transfers the amount from her SBI saving account to our account?
(2) Instead of taking my share of 40 lac, if I leave it in her account only. My plan for this money is to invest in various instruments like FD, MF, etc. I want to know, if that would be a big difference in tax saving, if I invest from her account/name, instead of my name?
I will be in 30% bracket as per my salary. If I invest on my name, will its returns attract 30% tax deduction?
What would be advised?
Thanks