Can LLP (Limited Liability Partnership) made capital contribution in cash???
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Quick Summary
This discussion clarifies whether a Limited Liability Partnership (LLP) can accept capital contributions in cash. While cash contributions are permissible, it's crucial to adhere to Section 269ST of the Income Tax Act. This section restricts cash transactions, meaning a partner can only contribute less than £2 lakh in cash per day to the LLP.
Yes, please ensure the complaince of Section 269ST is applicable, a partner of the firm can contribute only up to “less than Rs. 2 lakhs” in cash etc. modes in a single day. that is the restriction but thers is no other problem,
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