can parents would like to give some cash gifts directly from their bank account in India to ours in US?

@poonamkachaand ,

(a) if the amount received by each recipient  from an NRA  ( aggregated if  related parties ) is under US$100,000 there is no reporting requirement.  The receiving US bank will indeed raise a SAR ( Suspicious Activity Report) as a matter of course  and  nothing comes of it generally.

(b) if the amount is equal or greater that US$100,000 then the recipient would have to file a form 3520 -- see here --

Form 3520 (Rev. December 2023)

Instructions for Form 3520 (Rev. December 2023)

Is there more I can do for you ?

Generally, tax is never owed by the recipient of a gift under US law.   Whether the giver must pay a tax depends on the tax laws of their home country.  If the gifts (per person per year) are more than $100,000, they must be reported (disclosed), but there is no tax owed with the disclosure.

If the gift is made in such a way that you end up owning or controlling a foreign bank account that contains more than $10,000 for even part of the year, that must also be reported (but US tax is still not owed).  But if the gift is made into your US bank account, then you only have to worry about the reporting requirement over $100,000.