Between 1992 and 2004 I was working in USA. I had also gained US Citizenship in 2003. In 2004 I returned to India and since then lived in India. I got (back) Indian citizenship in 2014. Now I want to transfer all my assets (which are savings while I was in USA and for which US income tax had been pained when the money was earned) in my US bank accounts to my RFC account in Indian banks. Do I need to pay tax in India for these assets?

1 Answer 1


If the person has come back for good, any assets or foreign earnings can be transferred tax free back to India within 7 years.

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