<prompt> Human: My parents want to invest some money in India to take advantage of higher tax rates on CDs called Fixed Deposits there. Like, MUCH higher 6 interest on 90 day CDs at some of the largest banks. They have relatives in India who would invest the money for them.I know DICGC their FDIC equivalent insures bank accounts for up to 100,000 rupees about 1500, so Ive made my parents aware of that. But beyond that, what am I missing here? It seems too good to be true, so I assume it probably is. My parents are US citizens and hold OCI cards. 1. Would they need to file dual taxes or does Indias DTAA agreement negate that? 2. Would they need to ensure that their interest income in India is less than 250,000 rupees to fall into the 0 tax bracket? See 3. How would they file this income for US taxes which I hope are the only taxes theyd have to file?4. What would be the best way to legally transfer that money back to the US, in terms of conversion rates, tax implications, etc?Edit: these would be 1-year CDs - very short term. Thank you so much for the help!  <response>: The Rupee is as of late losing 6 of its value relative to the dollar annually, so that will negate 6 annual interest. 