Moving back to India next month. Deeply worried about the tax system in India.
I am moving back to India after staying in the US for around 9.5 years.
For the next 2 years, I will have RNOR status. I will be using this period to liquidate my US retirement accounts(401K, IRA) and bring back all of that money back to India.
I will be bringing back roughly 10 Cr at the end of RNOR period. I will be investing the amount in equities and FDs, here in India.
The thing that I am deeply worried about is that if some tax auditing officer sees that I have a large sum of money, he will just try to harass me with IT demand notices to get bribes from me. Is this a possible scenario or am I just being too paranoid.
How common is it to get harassed by IT department folks even when you are clean and not breaking any laws in India?
Please say something reassuring. I am under a lot of stress. Me moving back to India is not entirely voluntary.