Contribution meaning
This query is : Resolved
21 November 2017
What does the word 'Contribution' actually mean according to LLP Act?
22 November 2017
The obligation of a partner to contribute shall be as per the LLP Agreement. Contribution may consist of tangible or intangible, movable or immovable property or other benefit to the LLP including contract of services performed or to be performed. The contribution of each partner along with the nature of contribution has to be disclosed in the accounts of the LLP. The monetary value of the non-monetary contribution is to be valued by a Chartered Accountant or a Cost Accountant or an Approved Valuer. A creditor of an LLP, who extends credit relying on the obligation of the partner to make contribution as recorded in the LLP Agreement, may enforce such obligation against the partner.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- TDS on Purchase of Immovable Property by NRI from NRI
- Capital gain from sale of house property
- Stamp Paper for partnership firm change new income tax 2025
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- FORM 26A APPLICABILITY
- SFT Cash Deposit in Current Account
- Value of property in capital gain
- Regarding TDS Applicability For Director Remuneration
- TDS APPLICABILITY......
- Copyright software
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
