In a LLP, the obligation of contribution of a designated partner as per the LLP agreement was Rs.50,000. But he contributed only Rs.30,000 in the entire period. Is there will be any penalty or compliance for the same? What should I do now?
Menu
Contribution Received is less than the Obligation of Contribution
Replies (6)
Quick Summary
No there should not be any penalty as the contribution amount is less than agreement so you might deposit the additional amount within due time
No penalty if contribution is less
And what will be the due time? What if he fails to contribute more within the due time also?
There is no due time partner can anytime may deposit their capital
No due time agree
If he couldn't able to contribute the balance amount now or even later, is there won't be any issue right?
Recent Topics :
- Is there any faculty taking chapterwise test in CA
- Late Fees and Interest
- HDFC Bank’s Bureaucracy: The Nightmare of Fl
- Running a CSC Center, Maha E-Seva Kendra, Setu Ken
- GSTR-9 Table 8A issue
- CA Inter Coaching institutes at Hyderabad
- Looking for practising CA
- TDS return filing
- Need formats of FS as per Co act 2013 in soft copy
- Remittance to italy
Related Topics :
CAclubindia
