Dear Friends,
I am very interested to know how the process of crowdfunding works. Specifically, if the funds are coming in from an international bank account.
So how is an entry made in the book of accounts, i.e. as donation or pre sales?
If it is pre sales, what are the tax implications of the same?
And do we need RBI permissions to receive foreign exchange in our accounts?
Would love to talk to some people who have gone through this and can guide me.
Amiitabh
asha chaudhry
hi amitabh,
i’ll ping hemanshu and rajat for you to share their gyaan.
do check these posts out for sure!
https://www.therodinhoods.com/forum/topics/diabeto-s-crowdfunding-experiences-at-the-awesome-mumbai-open
https://www.therodinhoods.com/forum/topics/say-hello-to-india-s-freshest-crowdfunding-ecosystem