Can any one suggest is it mandatory to transfer money as capital contribution in LLP bank account in capital ratio ??
If possible also refer rules or section related to this ?
Replies (4)
Quick Summary
This discussion clarifies the rules surrounding capital contributions in a Limited Liability Partnership (LLP). It explains that partners can contribute money, property, or other benefits as outlined in the LLP agreement and Section 32 of the LLP Act, 2008. While contributions are mandatory as per the subscriber sheet and LLP agreement (Section 33), there is no minimum capital requirement for forming an LLP.
Firstly you have to deposit cash. How much you deposit will be your capital and you can calculate contribution or else you can deposit your contribution as calculated
As per the LLP Act, 2008, the obligation to contribute money, property or benefits for LLP shall be as per the LLP agreement implemented at the time of incorporation of the LLP