LLP capital contribution

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STUDENT
43 Points Posted on 28 September 2020
Can LLP (Limited Liability Partnership) made capital contribution in cash???
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On 28 September 2020 at 22:42 Report
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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.

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Student
570 Points Posted on 29 September 2020
Yes......
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On 29 September 2020 at 05:33
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STUDENT
43 Points Posted on 29 September 2020
Are you sure sir??. can you please give me section Or Notification about it?
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On 29 September 2020 at 09:06
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Student
570 Points Posted on 29 September 2020
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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On 29 September 2020 at 15:27

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