Can I start a business where we sell Iphone for Rs 1

Respected sir im starting a business where we sell Iphone 6s for Rs 1 its like win an iphone 6 s for Rs 1,if the customer doesnt win his money will be refunded.Please do let me know whether it is legal or not

Answers (1)

221 votes

I will need a little more information to see which Act is applicable. If you start the business with proper formalities and procedures, it will be okay. But how do you plan on generating revenue from a model like this? Is this a lucky draw system?

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