Huf capital creation

Hi Friends,

My family consists of 4 members - me, my wife, my father, my mother.

If we decide to create HUF of my father & my mother with father as Karta -

1. Whom amongst 4 of us can transfer tax free money to HUF account ? Any legal process involved in transferring the corpus from Non-HUF / HUF member?

2. Can a HUF member (as an individual) transfer corpus into HUF account tax free ?

3. Income from income is tax free. But is income from gift also tax free ?

Please note that we do not have any ancestral property, etc. We plan to use HUF only for the purpose of saving tax through our corpus.

Regards,

Rohit