During negotiation with counter offer do I need to give another company offer letter to negotiating company HR?

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HRs ask for other offers in hand as a proof to give you a higher salary but its not ethical to share an offer letter as its confidential. But people do and almost every company's hr asks for it.

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Are there any chances that company will revoke existing offer if we approach with counter offer?

Ideally they would want to hire you as they have invested time to go through the rounds, my advice don't be greedy always show what you can bring to the table and always be prepared to say NO. HRs will always tell you if they can't increase after a certain amount.

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