LLP contribution or loan

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CA
115 Points Posted on 15 July 2022
Will the amount of loan given by partner in case of LLP be considered as contribution received by LLP? I am filling form 11 and there it mentions 'contribution received' to be entered by me
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On 15 July 2022 at 20:35 Report
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This discussion clarifies whether a loan provided by a partner to an LLP should be classified as a contribution. The consensus is that loans and contributions are distinct. Contributions are formally recorded within the LLP's structure, while any additional funds provided by a partner are treated as a loan.

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Chartered Accountant
1996 Points Posted on 15 July 2022
No loan is not a contribution
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On 15 July 2022 at 22:39
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Chartered Accountant
86505 Points Posted on 16 July 2022
There is difference in loan and contribution. Amount of contribution is mentioned in LLP and anything over and above contribution is shown as loan
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On 16 July 2022 at 08:32

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