Limited Liability Partnership Act,2008
This query is : Resolved
26 October 2010
Dear Sir,
Pls. solve my following query regarding LLP Act,2008.
LLP being seprate legal entity what is maximum & minimum withdrawls of partners from LLP
Thank You,
With Regards,
Amit Singh
Pls. solve my following query regarding LLP Act,2008.
LLP being seprate legal entity what is maximum & minimum withdrawls of partners from LLP
Thank You,
With Regards,
Amit Singh
26 October 2010
It would depend upon the LLP agreement.
26 October 2010
Thanks Mr. Aditya Maheshwari Sir,
There has to be some limit
"If say partner has contributed Rs 10 Lac and profit accumulated to his account is Rs 20 Lac. So capital account to his credit is Rs 30 Lacs.
Thus, can partner withdraw upto say Rs 25 Lacs from LLP?
What if, partner withdraws Rs 45 lacs (overdrawn amount is Rs 15 lac) ?"
With Regards,
Amit Singh
There has to be some limit
"If say partner has contributed Rs 10 Lac and profit accumulated to his account is Rs 20 Lac. So capital account to his credit is Rs 30 Lacs.
Thus, can partner withdraw upto say Rs 25 Lacs from LLP?
What if, partner withdraws Rs 45 lacs (overdrawn amount is Rs 15 lac) ?"
With Regards,
Amit Singh
26 October 2010
There is no restriction as per LLP act. So there must be restriction as per provisions of LLP agreement only in my view.
Message likes :
1 times
27 October 2010
Thank Sir
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
- CAPITAL GAIN BASE ON NOTIFICATION
- Unregistered suppliers utility
- ITDS U/S.194T of Firm
- NRI starting business in India
- Difference between Date of Payment and Date of Deduction?
- Journal entry of busniess expenses
- GST not cancelled by tenant
- FORM 141 SDV query
- URGENT-Eligible leaves being shown as 24 days for 3 years Articleship instead of 156 days in 108
- Cash balance limit and property purchases limit
- Taxable or Tax exempt
- How to pay remaining amount of TDS after due date?
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
