Transferring online money to father

It may be for medical expenses.

Its exempted from tax.

Sorry but you did not read the full query 

Hi,

Pleae treat as loan given to your father, that will not be taxed.

You need to get the same from from your father and record the same.

If you are not going to get back the money from him, then prepare proper Gift deed in stamp paper for records.

Hi,

Pleae treat as loan given to your father, that will not be taxed.

You need to get the same from from your father and record the same.

If you are not going to get back the money from him, then prepare proper Gift deed in stamp paper for records.

@ Rohit

This 20 Lakh is a GIFT from Son to Father [ not cash ]and does not attract any tax as per Indian Direct Tax Laws.

But better to keep a simple Gift Letter mentioning clearly that:-

This [Amount] is a Gift  from NAME [Son] to NAME [Father], date, place and your signature. You can just prepare it on a small value stamp paper [ 50/- or 100/- rupees]. This can be held by the receiver of the Gift [your father] for producing, if ever needed.

If the RECEIVER of this gift uses the funds for producing any income, that income belongs to him and taxable for him [Your father] alone. Except if the gift was to a Minor and the gift amount produces income [ ie FD interest for example] then that income becomes taxable for the parent [with higher income] , but not for the gifter, if gifter is not one of the parent. 

Best reply received for my query thanks