Structural, magnetization, phonon behavior, and dielectric response of nanocrystalline Gd2CoMnO6 have been presented in this paper. The study shows that the material crystallizes in P21/n phase group of monoclinic crystal structure. XPS measurement shows Co 2+ and Mn 4+ oxidation states are present in the sample. Magnetization study reveals that sample undergoes a ferromagnetic ordering of Co 2+ and Mn 4+ magnetic ions around Tc ∼132 K. However we have seen that with the application of external magnetic field the phase transition is largely suppressed. Raman study reveals the presence spin-phonon coupling in Gd2CoMnO6. Dielectric study reveals that the sample shows large dielectric constant and strong dispersion in mid frequency range. The dielectric loss shows there are two relaxation processes present in the material with different relaxation time and which are driven by thermally activated relaxation mechanics. Further, the Nyquist plot and AC conductivity study shows that this sample is non-Debye's in nature.