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Add or Remove a Partner in LLP with OneCallTax – Hassle-Free & Expert Assistance

  • Are you looking to add or remove a partner in your LLP? OneCallTax offers seamless and expert assistance to help you legally restructure your business while ensuring compliance with MCA regulations. Get quick processing, minimal paperwork, and expert guidance for a smooth transition. Book a Free Consultation Now!

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Why Add or Remove a Partner in an LLP?

Reasons to Add a Partner in an LLP

  • Business Expansion
  • Need for Additional Expertise
  • Infusion of More Capital
  • Change in Management Roles

Reasons to Remove a Partner in an LLP

  • Voluntary Resignation
  • Death or Incapacity
  • Non-compliance with LLP Agreement
  • Misconduct or Conflict of Interest

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Qualification Criteria to Add or Remove a Partner in LLP

  • To Add a Partner: Must be an individual or entity legally eligible to enter into a contract in India.
  • To Remove a Partner: If the partner voluntarily resigns, passes away, or violates the LLP Agreement.

Agreement & Capital Investment Needed

  • LLP Agreement Amendment: Must be updated to reflect the change.
  • Capital Contribution: The new partner’s investment must be documented.

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Documents Required to Add or Remove a Partner in LLP

  • PAN & Aadhar of the Partner
  • Digital Signature Certificate (DSC)
  • LLP Agreement (Updated Version)
  • Resignation Letter (If Removing a Partner)
  • Form-3 & Form-4 for MCA Filings
  • Consent Letter from Existing Partners

Detailed Process & Forms for Adding or Removing a Partner in LLP

  1. 1Obtain Digital Signature Certificate (DSC)
    • Required for new partners to sign documents digitally.
  2. 2Obtain Director Identification Number (DIN)
    • If applicable, the new partner must obtain a DIN.
  3. 3Draft Amendment to LLP Agreement
    • Prepare an updated LLP Agreement reflecting the changes.
  4. 4Pass a Resolution for the Change
    • Existing partners must approve the addition or removal.
  5. 5File Form-3 & Form-4 with the MCA
    • Submit the necessary filings with the Ministry of Corporate Affairs.
  6. 6Update Bank & Taxation Details
    • Ensure all financial and tax records reflect the updated partner details.

Timelines for Completion

  • Document Preparation: 2-3 Days
  • Filing with MCA: 5-7 Days
  • Approval & Updates: 10-15 Days

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  • How to add a partner in LLP with OneCallTax
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  • Change in LLP agreement due to new partner
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