User:Michel kpc

Crowd funding In India is legal or not. Basic of crowd funding. Crowdfunding is a collective effort by people who network and contribute collectively for a cause or a business idea. This seems very similar to the traditional concept of charity or social cooperation but unlike funding here is done with an objective of earning some return either monetary or intangible. The modern day crowdfunding is associated with internet and the use of social media for fundraising. In India crowdfunding is still in its nascent stage even though the potential is incredibly high. The paper studies the select Indian online crowdfunding platforms (CFPs), their area of focus, fund raising strategies, and their revenue models. CFPs not only support business activities but also social causes. E.g. Ketto (www.ketto.org) supports NPO, creative and social causes through the platform. The CFPs were selected to represent a diverse set of crowdfunding sectors and the availability of data. How crowd funding works. Crowdfunding is a process of soliciting funds from the general public to support an idea or create projects or fund businesses. It directly connects people with money to the people who need it. It is nothing else but the crowd’s collective pocketbook. It allows large groups of people to replace banks and other institutions as a source of funds. The concept of collective funding of a project by a group of people is as old as time. The modern day crowdfunding is the modified, internet model of the same old concept. The Web has made the entire process of floating an idea and raising funds for the same much easier and faster. Apart from getting access to funds, another major advantage is to getting validation of the idea or concept. One of the first instances of using internet to raise funds occurred in 1997 when the British rock group Marillion raised $60,000 from its fans to fund its North American tour. ArtistShare was the first US-based company to establish the crowdfunding website in 2001. This is an process whose can done by Individual to person to person who need money or who want money. The fund that collect by person can be 30% tax payable from total fund collected, in India.

There are several firm or group of Individual can work in crowd funding all are legal if they come the peer to peer means, person to person with no return high promise.