Gift Deed Required?

When a father gifts his son Rs 20 Lakhs, a gift deed is advisable. While not strictly mandatory for the transaction itself, it's good practice to document the gift. This deed should be signed by both parties on stamp paper, with PAN details included. The value of the stamp paper isn't restricted, but using a denomination between Rs 100 to Rs 500 is recommended for a sum like Rs 20 Lakhs.