A father had purchased a plot of land in the year 1981 for Rs. 12000/-. Later in the year 1985,1990 & 2000 he spent Rs. 10 lacs, Rs. 5 lacs & Rs. 10 lacs repectively for construction of house property. The same house property was sold in the year 2014 for Rs. 1.40 cr. After applying indexation there’s a capital loss of Rs. 4,18,566/-.

Now the father gifted the cash received from sale of property to his son ( without any gift deed ) to purchase a property in the name of the son.

My question here is that, Is there any need of registered gift deed for a movable property that is gifted (cash). The father is not liable for any LTCG as there is a LTCL but is the son liable for any tax for that matter?

Please put some light over the issue.