I have a few accounts that earn interest, and a trading account that has some stock in it in India.
For the last few years, I have been filling up a FATCA form and sending it in.

Someone told me that this year I need to pay some taxes here for interest income earned in India, so this will actually change my income tax return for 2015. Is this true? Anyone have experience in this?

Foreign earned interest/dividends are taxable but you can also include taxes paid to other countries to offset US taxes with a Foreign Tax Credit (form 1116).

Yes. You also have to disclose foreign accounts above a certain (relatively low) threshold.

Schedule B - Interest and Dividends

If you have interest & dividends and are required to file Sch B on your tax return, you are required to disclose in part III of Sch B whether you had a financial interest in or signature authority over a financial account (such as a bank account, securities account, or brokerage account) located in a foreigncountry.

If you do have such accounts, you may be required to file FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR), to report that financial interest or signature authority. A person that has a financial interest in or signature authority over foreign financial accounts must file an FBAR if the aggregate value of the foreign financial accounts exceeds $10,000 at any time during the calendar year.

FinCEN114 can be e-filed here.

And, yes, you do pay tax on foreign-source income. But if you also pay foreign taxes on that same income, you may qualify for a foreign tax credit.

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Yes. You also have to disclose foreign accounts above a certain (relatively low) threshold.

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I just checked and it comes up to $4876 in dividend generated, and $521 in interest.
Looks like I will pay approx $1.3k in taxes?

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Schedule B - Interest and Dividends

If you have interest & dividends and are required to file Sch B on your tax return, you are required to disclose in part III of Sch B whether you had a financial interest in or signature authority over a financial account (such as a bank account, securities account, or brokerage account) located in a foreigncountry.

If you do have such accounts, you may be required to file FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR), to report that financial interest or signature authority. A person that has a financial interest in or signature authority over foreign financial accounts must file an FBAR if the aggregate value of the foreign financial accounts exceeds $10,000 at any time during the calendar year.

FinCEN114 can be e-filed here.

And, yes, you do pay tax on foreign-source income. But if you also pay foreign taxes on that same income, you may qualify for a foreign tax credit.

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Yes, that is the FBAR that I file every year.
I'll check if any taxes were paid out already.