Mutual funds gains

Now a dad gifted his wife 20 lakhs and son and daughter each 10 and 10 lakhs. Which all invested in equity mutual funds and held for a year. Now when long term capital gains after a year, can each of them take advantage and have that 1 lakh tax free exemption or will it be considered as a gift to family members and all LTCG will be taxed on dad's name only. Example after 1 year: Wife: 4 lakh gain Son: 2 lakh gain Daughter: 2 lakh gain So will each of them get 1 lakh exemption independently for tax savings or will it all be considered on dad's gains even though it was invested on their family's names.