Advertise With Us

    Partner to bring its contribution in the LLP in cash

    Posted By : Vidushi / Published on : 29-Jun-2022 04:57 AM / View : 79 / Comment : 1

    Print button
    Hi members

    Is it necessary for a partner to bring its contribution in the Limited Liability
    Partnership in cash?

    Regards!
    Vidushi
    Read more on : cash contribution bring partner

    • Hello Vidushi,

       

      In FAQ issued by ICSI regarding LLPs, it is mentioned that

      As per Section 32 of Act, contribution of a partner may consist of tangible,
      movable or immovable or intangible property or other benefit to the limited
      liability partnership, including money, promissory notes, other agreements to
      contribute cash or property, and contracts for services performed or to be
      performed.
      Thus, it is not necessary for the partner to contribute in the Limited Liability
      Partnership in cash. It can take any form as stated in Section 32.

       

      hope it helps!

      thank you 

       

      06-07-2022 / 05:08:03 AM
      Reply
    Please Select Excel File:



Other Queries from Vidushi
What's New on

Like us on Facebook
Follow Us on Twitter

We are always here to help you. Don’t hesitate to contact us anytime!

+91-9988424211 or ask@compliancecalendar.in