301 Redirect

It permanently sends(redirects) a user landing on URL A of your website to the URL B.

It also passes the link juice(if the URL A had any)

Normally used to redirect users if you delete a blog post/page and do not want the users to bounce, instead you send them to a relevant page.. or the homepage of your website(instead of hitting a 404 not found page)
 
I mainly use it to pass link juice from one domain to another..
 
Is there any difference between link sortner and 301 redirect? Or both are same?
 
In 301 direct, actually you say to the google robot this page is redirected to the another page and google will transmit the score of a former page to a new page.
Use this method when you want to change your domain name or want to change a Post url without losing your webpages rank.
Usually, webmasters don't use this method for making backlink and actually no one accepts redirecting their main pages to your website.
 
So if I use 301 redirect to my money site and provide Backlinks to the 301 redirect. It will give link juice to my money site?

Yes, but you have to make sure that the redirected domain should be spam free and have good backlinks i.e. from high authority site then only your money site will get good boost.
 
It's a response type that tells the client the resource has permanently moved and can be found at another location. And yes, google passes the link juice to the new location.
 
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