Change in contribution of partners in llp


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Querist : Anonymous

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Querist : Anonymous (Querist)
12 May 2015 LLP is incorporated but form No 3 is not filed till date and now partners want to internally (i.e. total contribution remains sane as mentioned while incorporating)change contribution then what should be done? change in contribution is must.

Pratik Shah (Expert)
14 May 2015 It is not possible now. Because you must have given details of partner-wise contribution in Form 2.

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Querist : Anonymous

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Querist : Anonymous (Querist)
14 May 2015 But I have to change and if I don't then there is violation of FEMA.

Pratik Shah (Expert)
14 May 2015 Can you please explain how FEMA provisions are getting violated in your case?

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Querist : Anonymous

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Querist : Anonymous (Querist)
14 May 2015 Contribution of NRI partners in LLP exceeds 50% of total contribution. And it should be less than 50%.

Pratik Shah (Expert)
14 May 2015 But you must be knowing this while you filed form 2! I think you should visit ROC office and ask for solution.

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Querist : Anonymous

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Querist : Anonymous (Querist)
14 May 2015 I know this while filing form 2, but it's big
error while filing. by the way thanks for your reply.


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