Q7 Karan, an NRI based in the UK, has several sources of funds, he wishes to manage in India. He decides to open an NRO (Non-Resident Ordinary) account. Which of the following transactions are permissible credits to this NRO account, under RBI regulations? Q8 Dev, an NRI, sells a residential property in Bangalore for ₹80 lakhs. He wishes to repatriate the sale proceeds to the USA. He consults his tax advisor, regarding the procedure. Which of the following statements are correct? Q9 Priya, an NRI living in Singapore, holds both an NRE Fixed Deposit, and an NRO Fixed Deposit in India. She notices a difference, in the tax treatment of the interest earned. Which of the following statements, accurately reflect the tax rules? Q10 Rohit requires emergency funds while in India, and approaches his bank for a loan, against his NRO Fixed Deposit. The bank agrees to sanction the loan. Which of the following conditions, apply to this loan?