Demat account with father's PAN card

I already hold a demat account with Zerodha and have some stocks and funds in portfolio.

My father who is a private employee earning around 25k/month currently will get retired next year. He will have no source of income after that (may be a nominal 2k/month in pension) and hence he will have zero tax liability.

I am considering opening a demat account with his PAN card. I will be operating the account with all my money, my bank, my UPI everything. I consensually have access to all his financial details.

Goes without saying that I will be taking care of income tax as per the gains (if any).

Is all this arrangement illegal from a IT Dept perspective. Can I be held responsible for any fraud or unfair practices here ?

Please suggest.

Basic question

If the Demat account will be opened with Dad’s name then how can you link your bank account ? That wouldnt be possible in my understanding

There will be no such regulatory problems as you are trading with their consent.

Yes. But he may be operating that bank account also, I think.