Economics · Foreign Exchange Management
Under Foreign Exchange Management Act (FEMA) guidelines, which of the following modes of acquiring immovable property outside India by a resident is not permitted?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Purchase using funds borrowed from a non-resident individual.✓
- 2Inheritance from a person resident outside India.
- 3Acquisition as a gift from a person resident outside India.
- 4Purchase from funds held in an RFC account.
Correct answer
Purchase using funds borrowed from a non-resident individual.
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