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Change in contribution of partners in llp

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Querist : Anonymous

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Querist : Anonymous (Querist)
12 May 2015 LLP is incorporated but form No 3 is not filed till date and now partners want to internally (i.e. total contribution remains sane as mentioned while incorporating)change contribution then what should be done? change in contribution is must.
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Pratik Shah

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Pratik Shah (Expert)
14 May 2015 It is not possible now. Because you must have given details of partner-wise contribution in Form 2.
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Querist : Anonymous

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Querist : Anonymous (Querist)
14 May 2015 But I have to change and if I don't then there is violation of FEMA.
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Pratik Shah

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Pratik Shah (Expert)
14 May 2015 Can you please explain how FEMA provisions are getting violated in your case?
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Querist : Anonymous

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Querist : Anonymous (Querist)
14 May 2015 Contribution of NRI partners in LLP exceeds 50% of total contribution. And it should be less than 50%.
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Pratik Shah

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Pratik Shah (Expert)
14 May 2015 But you must be knowing this while you filed form 2! I think you should visit ROC office and ask for solution.
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Querist : Anonymous

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Querist : Anonymous (Querist)
14 May 2015 I know this while filing form 2, but it's big
error while filing. by the way thanks for your reply.

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