An integrative approach is adopted to address the intriguing aspect of fluorescence dynamics in carbon nanodots (CNDs). In this contribution, we offer two different types of highly luminescent CNDs derived from a natural‐resource and glucose‐amine‐CTAB reactions by employing fast and cost‐effective methods. Lemon‐juice derived CNDs (CND1) exhibit excitation‐independent emission, whereas the other one shows excitation‐dependent fluorescence; the former one possesses more of a nanosheet like structure whereas later exhibit particle behavior. We also provide conclusive evidence on the existence of the CNDs in a state of aggregation in aqueous solution and the presence of high molecular weight structure, contrary to reported observations. Circular dichroism studies suggest strong H‐bonding networks in CNDs. The juxtaposition of experimental findings indicates the presence of pyrrolopyridine‐type fluorophoric moiety. The temperature‐dependent luminescence properties of CNDs is highly reversible in nature therefore, synthesized CNDs can find potential application as nanothermometer. Metal‐ion dependent modulation of fluorescence properties of CND1 suggest its applications in ion‐sensing.