Renouncing Us Citizenship And Getting Back Indian Citizenship

Your assumption is WRONG. You file income tax returns in both places, and you pay the tax at the HIGHER of the two countries. Which country is higher would depend on the tax payer's particular situation, and income types and amounts.

Learn about DTAA between India and USA
The Double Tax Avoidance Agreement is a treaty that is signed by two countries.

 

Yes... you can start with the US-Internal Revenue Service. Many former Indian Citizens who live in USA, and still have financial affairs in India, report their passive-earnings from India on their annual US tax returns. Some of those earnings may have been through TDS (tax deducted at source) in India. For such cases, and to avoid dual-taxation, IRS offers form-1116.

source
You can claim a credit only for foreign taxes that are imposed on you by a foreign country or U.S. possession. Generally, only income, war profits and excess profits taxes qualify for the credit. See Foreign Taxes that Qualify For The Foreign Tax Credit for more information.

Taken as a deduction, foreign income taxes reduce your U.S. taxable income. Deduct foreign taxes on Schedule A (Form 1040), Itemized Deductions

Taken as a credit, foreign income taxes reduce your U.S. tax liability. In most cases, it is to your advantage to take foreign income taxes as a tax credit.

If you elect to exclude either foreign earned income or foreign housing costs under IRC §911, you cannot take a foreign tax credit for taxes on income you exclude. If you do take the credit, one or both of the elections may be considered revoked.

How to Claim the Foreign Tax Credit
File Form 1116, Foreign Tax Credit, to claim the foreign tax credit if you are an individual, estate or trust, and you paid or accrued certain foreign taxes to a foreign country or U.S. possession.​

There are many US Tax return filers - residing in both USA and India, who use this form when they file tax returns. It makes no difference where your domicile (legal residence or Tax-residence) is. There are such a lot of retired US citizens who live in India, and to serve their tax-return needs, there are so many Tax-filing services in the metros (NCR, Mumbai, Hyderabad, Bangalore, Chennai, Coimbatore, Kochi ). US citizens living in India should file their tax return in India first, and then use the numbers in that form to file US Tax returns.
Both countries have rules about FBAR -- in India this is part of the Tax forms, in the USA the tax payers are asked to use an electronic filing system.

 

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A friends parents in their 60s just got US citizenship They are planning on going back to India. They have bought a small apartment in India 20 years ago. What are the consequences of going back. Will they have any issues or what do they need to know to make their trip to India hassle free and worry free.