If I transfer funds to India and my Parents do a Fixed Deposit for it, do they need to pay taxes on that money?

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They will have to pay taxes on the interest they earn (if their total income falls under taxable slab)

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Thank you, bank won’t have any questions on sudden influx of money or something?

Depends on ur long term goals. If u send money n try to repatriate it, u lose a lot.
I Sent money at 45, tryin to bring it back at 75 ... effectively 67% more expensive.

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Only send it if you have no plan bringing it back.

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Only if it’s a cash transfer

No, I meant they will question the source only if you go and transfer hard cash to your parents’ account

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