Anupam revealed the news of his father Pushkar Nath Kher's passing on his Twitter page.
The actor said: "As I landed in Goa my brother Raju called from Mumbai that the 'Best Dad in the World' ( our father ) is No More. Travelling back."
The 56-year-old actor was reportedly on his way to director David Dhawan's son's wedding in Goa.
Soon after learning of the news, many members of the Indian film fraternity sent their condolences.
Filmmaker Madhur Bhandarkar tweeted: "Please accept my deep condolences in this moment of grief, I pray to GOD to give you strength and bless the departed soul."
"I'm so sorry Anupam uncle.. Lots and lots of love and prayers," tweeted actress Sonam Kapoor.
Actor Siddharth, who played Anupam's son in Rang De Basanti, tweeted: "I'm so sorry for your loss sir... prayers..."