TaxTMI 
TaxTMI 
Sir
In case of LLP ,Whether Capital of partner can be introduced and withdrawn as in partnership firms.
capital in LLP
07 Dec 2015 
3 Replies 
1518 Views Asked by
LLP capital contribution governed by agreement; if none, default equal sharing of capital and profits applies.
LLP capital contributions and withdrawals are governed by the LLP agreement; there is no specific statutory provision prescribing procedures, so partners may contractually determine introduction, withdrawal and fee mechanisms. If the agreement is silent, the First Schedule provides the default that partners share equally in capital, profits and losses and mutual rights and duties are determined by those Schedule provisions. (AI Summary)
LLP capital contributions and withdrawals are governed by the LLP agreement; there is no specific statutory provision prescribing procedures, so partners may contractually determine introduction, withdrawal and fee mechanisms. If the agreement is silent, the First Schedule provides the default that partners share equally in capital, profits and losses and mutual rights and duties are determined by those Schedule provisions. (AI Summary)