The γ-ray spectra of the ^112Cd(p,nγ)^112In and ^109Ag(α,nγ)^112In reactions were measured with Ge(Li) spectrometers for bombarding energies of 4.8 MeV protons and 17.1 MeV α particles. The energies and relative intensities of 79 ^112In γ-ray transitions have been determined. The electron spectra were measured with combined magnet plus Si(Li) as well as superconducting magnetic lens plus Si(Li) spectrometers. Internal conversion coefficients of 40 ^112In transitions have been determined, and the level scheme of ^112In, γ-ray branching ratios and transition multipolarities have been deduced. Computed Hauser-Feshbach (p,n) cross sections were compared with experimental ones, obtained from γ-ray measurements. On the basis of the internal conversion coefficients and Hauser-Feshbach analysis, level spins and parities have been determined. The energies of several ^112In proton-neutron multiplets were calculated on the basis of the parabolic rule derived from the cluster-vibration model. The level energy spectrum and electromagnetic properties were calculated on the basis of the interacting boson-fermion-fermion/odd-odd truncated quadrupole phonon model and satisfactory agreement was obtained between the experimental and theoretical results. More than 20 p-n multiplet states have been identified in ^112In.