Gift tax

Hi Experts,

I have a question regarding gift tax? Not sure if this comes under category of gift tax.Pls clarify.

Suppose i pay a sum of say 2 lakh to my parents(both are retired and no income) so that they can renovate their house.

1 Do i get any tax benefit as i am paying them 2 lakh rupees 

2 Do they need to pay any tax as they are receiving the money.

Thanks in advance