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Whether contribution of 25 lacs include current capital a/c?

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(Querist)
22 November 2017 Dear members,

For the purpose of audit requirement under LLP, whether 25 llacs limit of capital contribution includes Current capital account of partners ?


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Ca. Shivam Poddar

+91 9899898748
cashivampoddar@gmail.com
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RAJA P M

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RAJA P M (Expert)
22 November 2017 I think No... Current account is not a standard Capital. It's business transactions related account. So, it's not included the limit...

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