Changes in LLP Companies
Eliminate risk of non-compliance by following all statutory compliance requirements for your business.
An LLP is not required to get itself audited unless its turnover exceeds INR 40,00, 000 or its capital is more than INR 25,00,000. However, it has to file Income Tax Returns, submit its Annual Return and file a statement of solvency and its financial statements.
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Changes in LLP
- General changes in the Agreement
- Changes to the name and/or objective of the LLP
- Change of registered office of the LLP, which falls within the ambit of the ROC
- Change of registered office from one ROC to another, or from one state to another
- Transmission of Rights in case of death of Partner or Director.
Changes in Partners of LLP
- Resignation or removal of Partners
- Introduction of new Partner
- Sharing of profit and loss ratio of the Partners
- LLP amendments
Changes in LLP Agreement
The LLP agreement serves as the partnership deed for computation of stamp duty to be paid to the State Govt. for the agreement. If no agreement exists, the partner relationship is monitored by the schedule I of the LLP Act.
However, the LLP agreement must be filed within 30 days of its incorporation. Likewise, if there is any change to this agreement, the same must be mandatorily filed within 30 days of the proposed change. This is a legal requirement.
Forms & Timelines
Form 3 to be filed within 30 days of the change
Form 5 to be filed within 30 days of the change
Change of Registered Office
Form 15 to be filed within 30 days of change
Introduction of New Partner
Form 4 to be filed within 30 days of appointment
Resignation or Removal of Partner
Form 4 to be filed within 30 days of change