Doubts regarding llp incorporation

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

27 August 2012 1. What is the difference between Partner and Designated Partner? Can all the partners become designated partner

2. What is the minimum requirement of capital contribution to be made in case of LLP

3. What is meant by Form of Contribution. Can the partner contribute other than by the way of monetary contribution

4.I belive that the concept of DPIN is removed and that the DPIN and DIN are the same. Plz confirm

5. If partners of an existing REGISTERED partnership firm(ARG Consultants) are desirous of forming an LLP with the same partnership name (ARG Consultants LLP). Can they do so.

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
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27 August 2012 1. Appointment of Designated Partner (DP) is mandatory in every LLP. The DP is responsible for all statutory compliances on the part of LLP including filing of e- returns.

2. There is no such requirement, every thing is left to the discretion of partners.

3. Yes, contribution can be tangible or intangible, i.e. cash and other than cash such as an asset.

4. Yes the MCA and LLP are now integrated and DIN holds good for filing e-forms for LLP.

5. I don't think it is possible with the same partners.

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