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Form no 11 clarification

LLP 1125 views 1 replies

Joel

nil

33 Points Joined June 2011

Hi All,

I have a query with filing of Form no 11 for an LLP.

This is the second year I am filing Forn no 11 and the following two questions confuse me.

Obligation of Contribution of partner -

Actual contribution Recieved from partner -

The LLP is a two partner concern and the Capital is 50000. The Partners each deposited 25000 is the first year. During the second year the partners have not contributed any capital to the LLP

Does the Question "Actual contribution recieved from the Partner" refer to the second year or the first year??

Are partners obligated to contribute every year?

Experts, Please can you guide me on this front.

Many thanks in advance,

Joel

Replies (1)

CS Advocate Abhishek Goyal

M Com FCS LLB M-AIMA

14043 Points Joined June 2009

In form 11 you have to state the contribution of partner received and accountd for in the books of LLP during the financial year for which your filing form 11.

So in form 11 for second year you will have to state nil contribution, but it is advisable and it would be better if you show some contribution from partners in your books of account.