I was in the US for a few years and didn't close my savings and checking accounts in the US at the time of return. After three years of my return from US, I transferred some funds to my savings account in India. Am I liable to pay any taxes in India? Do I need to declare these funds while filing income tax return in India? Please advise. Thank you.
Transferring your own money from USA to India does not create taxable income for you in India, assuming, of course, that you transferred the money via normal banking channels (wire transfer or paper demand draft/cashier's check or your own personal check deposited into your account in India or money transfer service such as Xoom) and didn't just show up at your Indian bank to deposit a satchel full of cash received via hawala channels. You do, of course, need to close down your bank accounts in the US some time soon (I think you are allowed to keep them for up to seven years after losing NRI status).